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NGEx Closes $2.92 Million Private Placement

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NGEx Closes $2.92 Million Private Placement

 

 

 

 

 

NGEx Resources Inc. (TSX:NGQ) (NASDAQ OMX:NGQ) is pleased to report that it has closed its previously announced private placement.

 

 

The Company sold an aggregate of 4,000,000 common shares at a price of CAD $0.73 per Common Share for gross proceeds of CAD $2.92 million on a non-brokered private placement basis to international investors. A 2.5% finders’ fee is payable on all of the Private Placement.

 

 

Net proceeds of the Private Placement will be used towards ongoing work programs in Chile and Argentina as well as for general corporate purposes.

 

 

All securities issued in respect of the Private Placement are subject to a four-month hold period under applicable securities law.

 

 

This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the U.S., or in any jurisdiction in which such an offer or sale would be unlawful. The securities described herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any U.S. state securities laws and may not be offered or sold in the U.S. or to the account or benefit of a U.S. person or a person in the U.S. absent registration or an applicable exemption from the registration requirements.

 

 

About NGEx

 

 

NGEx is a Canadian mineral exploration company with exploration projects in Chile and Argentina. The Company’s shares are listed on the Toronto Stock Exchange and on NASDAQ Stockholm under the symbol “NGQ”. The Company’s focus is on three advanced exploration stage copper-gold systems located on a contiguous land package that the Company holds in Chile’s Region III and adjacent San Juan Province, Argentina. Los Helados is part of a joint venture in which the Company holds 60% and Pan Pacific Copper Co., Ltd. holds 40%. Josemaría is part of a joint venture in which the Company holds 60% and Japan Oil, Gas, and Metals National Corporation (JOGMEC) owns 40%. NGEx holds a 100% interest in the Filo del Sol Project. In addition to these more advanced projects the Company holds a portfolio of 100% owned early stage exploration projects located in Chile and Argentina.

 

Posted March 23, 2016

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