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ROUYN-NORANDA, QC, March 23, 2020 /CNW Telbec/ - Fieldex
Exploration Inc. (TSXV: FLX) (FRANKFURT: F7E1)
("Fieldex") is pleased to announce that it has held a
closing of a private placement by issuing 3,000,000 units at a
price of $0.05 per unit, for gross
proceeds to Fieldex of $150,000. Each
of the units is comprised of one common share and one common share
purchase warrant. Each whole warrant will entitle the holder to
acquire one additional common share of Fieldex at a price of
$0.08 until March 20, 2022.
Fieldex will use the proceeds from the closing of the private
placement for working capital purposes.
In other news, Fieldex announces that it has completed its
previously-announced debt settlement transactions by issue an
aggregate 2,276,160 common shares at a deemed price of $0.05 per share to three creditors, along with
the transfer of its interest in certain mining claims comprising of
the Lac Sairs Property, in settlement of debts in an aggregate
amount of $113,808.
As a result of the closing of the private placement and debt
settlement transactions, there are 20,944,183 common shares of
Fieldex 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 July 21,
2020.
Fieldex is also pleased to announce that it has received the
approval of the TSX Venture Exchange with regard to its previously
announced one-year extension of the term of 1,875,000 common share
purchase warrants that were issued by Fieldex as part of a
private placement that closed on April 21,
2017. Each Warrant currently entitles its holder to purchase
one additional common share of Fieldex at an exercise price of
$0.15 until April 21, 2021.
About Fieldex
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 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 the release.
SOURCE Fieldex Exploration Inc.