ROUYN-NORANDA, QC, Oct. 16, 2014 /CNW Telbec/ - Fieldex Exploration Inc. (TSXV: FLX) (Frankfurt: F7E) announces that, following the conversion of two convertible debentures in the aggregate principal amount of $416,514, it has issued an aggregate of 4,165,140 common shares at a price of ten cents per share. Each share was accompanied by one‑half of a common share purchase warrant. Each whole warrant entitles the holder thereof to acquire one additional common share of Fieldex at a price of ten cents per share until October 9, 2015. Fieldex also entered into agreements with the holders of the convertible debentures to provide for the issuance of shares in payment of accrued and unpaid interest on the debentures. Pursuant to these agreements, and subject to regulatory approval, including that of the TSX Venture Exchange, Fieldex will issue an aggregate of 1,001,540 common shares in settlement of accrued and unpaid interest. These common shares will be issued at a deemed price of $0.05 per share and will be subject to a four‑month hold period as required under applicable securities legislation and the policies of the TSX Venture Exchange.
Following the foregoing share issuances, including the common shares to be issued in settlement of the unpaid accrued interest on the convertible debentures, there will be 84,316,798 common shares of Fieldex issued and outstanding.
Fieldex is a mineral resource company actively exploring for base and strategic group metal deposits located throughout Québec, Canada, representing an area of interest over 600 km².
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 the release.
SOURCE: FIELDEX EXPLORATION INC.
For further information: Martin Dallaire, eng, President & Chief Executive Officer, Tel.: (819) 762-0609, Fax: (819) 762-0097, [email protected], www.fieldexexploration.com