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ROUYN-NORANDA, QC, April 21, 2017 /CNW Telbec/ - Fieldex Exploration Inc. (FLX : TSXV) (F7E : Frankfurt) is pleased to announce that it has held a closing of its previously-announced private placement by issuing 3,750,000 units at a price of $0.10 per unit, for gross proceeds to Fieldex of $375,000. Each of the units is comprised of one common share and one-half of a common share purchase warrant. Each whole warrant will entitle the holder to acquire one additional common share of Fieldex at a price of $0.15 until April 21, 2020.
Fieldex will use the proceeds from the closing of the private placement for working capital purposes.
In connection with the private placement, Fieldex paid a finder's fee to Raymond James Ltd. in the amount of $3,200, representing 8% of the gross proceeds raised in the closing of the private placement and issued to Raymond James Ltd. 32,000 broker warrants in connection with the sale of the units. Each broker warrant entitles the holder to acquire one common share of Fieldex at a price of $0.15 until April 21, 2020.
In other news, Fieldex announces that it has completed its previously-announced debt settlement transactions by issue an aggregate of 1,589,470 common shares at a deemed price of $0.10 per share to three creditors in settlement of debts in an aggregate amount of $158,947.
As a result of the closing of the private placement and debt settlement transactions, there are 15,668,023 common shares of Fieldex Exploration issued and outstanding on a non-diluted basis. Under applicable securities legislation and the policies of the TSX Venture Exchange, the securities issued in the private placement and the debt settlement transactions are subject to a four-month hold period, expiring on August 22, 2017.
Fieldex is a mineral resource company actively exploring in Québec for strategic group of metals and industrial minerals deposits located in the province of Québec.
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 FIELDEX EXPLORATION INC.
For further information: please contact: Martin Dallaire, eng., President and Chief Executive Officer, Tel.: (819) 762-0609, Fax: (819) 762-0097