Vantex Raises $43,000 in Flow-Through Units
LA PRAIRIE, QUEBEC--(Marketwired - Dec 15, 2014) - Vantex Resources Ltd. (the "Company") (TSX VENTURE:VAX)(UD7A.F)(VAX.V) announces the completion of a $43,000 non-brokered financing.
The Company sold 43 Flow-Through units (the "FT Units") at a purchase price of $1,000 per FT Unit, for a total amount of $43,000. Each FT Units consists of 18,000 flow-through common shares and 2,000 common shares at a price of $0.05 per share and 20,000 common share purchase warrants. Each whole warrant will allow the holder to purchase one additional common share in the capital of the Company until December 15, 2016, at a purchase price of $0.07 per share.
Proceeds of the FT Units will be used for the continuation of exploration of the Company's properties 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 2014 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
