CORRECTION FROM SOURCE/Vantex Announces Flow Through Units Offering for a Maximum of $504,000

Marketwired

LA PRAIRIE, QUEBEC--(Marketwire - Feb 6, 2013) -

This document corrects and replaces the press release that was sent on February 5th at 12:54 PM EST. The error occurred in the first paragraph where it should have read "a non-brokered private placement financing".

Vantex Resources Ltd. (the "Company") (TSX VENTURE:VAX) has entered into an agreement with Avenue Capital Markets Inc. in respect of a non-brokered private placement financing at the following conditions:

A Flow-Through financing for a maximum of $504,000 with a maximum of 360 Flow Through Units (the "FT Units"). Each FT Units will be offered at a purchase price of $1,400, on a commercially reasonable effort agency basis. Each FT Units will consist of 8,000 flow through common shares and 2,000 common shares at a price of $0.14 per share and 5,000 share purchase warrants. Each warrant will entitle the holder to purchase one additional common share in the capital of the Company for a period of twelve months from the date of issuance, at a purchase price of $0.20 per share.

Proceeds of the flow through common shares will be used for the continuation of drilling on the Moriss zone of the Galloway property in Quebec. The expenses will constitute Canadian exploration expenses and flow-through mining expenditures (as defined in the Income Tax Act (Canada)), which can be renounced to purchasers for the 2013 taxation year.

The securities issued as part of this placement are subject to a minimum hold period of four-month-and-one-day period and subject to the approval of the TSX Venture exchange.

Contact:
Source:
Guy Morissette
CEO
819-763-5096
www.vantexressources.com
For information:
Avenue Capital Markets Inc.
Jean-Francois Lemay
514-395-1221
Wayne Carlon
VP Development
902-857-1043
waynecarlon@eastlink.ca

Rates

View Comments (0)