VAL-D'OR, QC, Dec. 23 /CNW Telbec/ - Abitex Resources Inc. (TSX-V: ABE) (the "Company") is pleased to announce that it has completed a non-brokered private
placement for a total of $500,000.
The Company issued a total of 1,875,000 flow through units of the
Corporation (the "FT Units") at a price of $0.20 per FT Unit for
aggregate gross proceeds of $375,000 and a total of 694,444 non flow
through units of Corporation (the "Units") at a price of $0.18 per Unit
for aggregate gross proceeds of $125,000. Each FT Unit consists of
one common share and one half of a common share purchase warrant (each
whole warrant a "Warrant"). Each non flow through Unit consists of
one common share and one Warrant. Each Warrant entitles its holder to
subscribe to one common share of the Corporation for $0.25 within
18 months following the date of issuance of the Warrant. Limited Market
Dealer received a cash commission of $30,000.00 and finders warrants
entitling it to acquire 48,611 Units at a price of $0.18 per Unit and
131,250 FT Units at a price of $0.20 per FT Unit for acting as finder,
with the understanding that the common shares underlying the FT Units
shall be issued on a non flow-through basis.
The offering is subject to the required approvals of the applicable
regulatory authorities, including final approval of the TSX Venture
Exchange. All securities issued in connection with the offering will be
subject to a hold period of four months plus one (1) day until April
22, 2011. The proceeds from the private placement will be used for
exploration and for general corporate purposes.
The Company's public documents may be accessed at www.sedar.com
For further information on the Company, visit our website at www.abitex.ca or email us at email@example.com
Neither 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.
SOURCE ABE Resources Inc.
For further information: For further information:
Yves J. Rougerie
President and CEO
Tel: (819) 874-6200