NGEX CLOSES CDN $12.5 MILLION PRIVATE PLACEMENT
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
January 3, 2018: NGEx Resources Inc.
(TSX: NGQ) (Nasdaq Stockholm: NGQ) (“NGEx” or the
“Company”) is pleased to report that it has closed its previously
announced private placement.
The Company sold an aggregate of 12,500,000
common shares (the “Common Shares”) at a price of
CAD $1.00 per Common Share for gross proceeds of CAD$12.5 million
on a non-brokered, private placement basis. A 5% finders’ fee
is payable on a portion 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.
The Common Shares sold in the Private Placement
are subject to a hold period of four months plus one day under
applicable securities law.
Two insiders of the Company, directly or
indirectly, purchased a total of 2,500,000 Common Shares under the
Private Placement (the "Insider Participation"),
constituting a "related party transaction" as defined under
Multilateral Instrument 61-101 ("MI 61-101").
These transactions are exempt from the formal valuation and
minority shareholder approval requirements of MI 61-101 as neither
the fair market value of any Common Shares issued to nor the
consideration paid by such persons would exceed 25% of the
Company’s market capitalization.
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 TSX and on Nasdaq Stockholm under the
symbol "NGQ". The Company's focus is on advancing the development
of its two, large copper-gold deposits, Los Helados and Josemaría,
located in Chile's Region III and adjacent San Juan Province,
Argentina. The Company owns a 100% interest in the Josemaria
project and is the majority partner and operator for the Los
Helados project. Los Helados is subject to a Joint Exploration
Agreement with its joint exploration partner in Chile, Pan Pacific
Copper ("PPC").
Additional Information
This information is information that NGEx
Resources Inc. is obliged to make public pursuant to the EU Market
Abuse Regulation. The information was submitted for publication,
through the agency of the contact person set out below, on January
3, 2018 at 2:30 p.m. Pacific Time.
On behalf of the board
Wojtek Wodzicki, President and CEO
Cautionary Note Regarding
Forward-Looking Statements
Certain statements made and information
contained herein in the press release constitutes “forward-looking
information” and “forward-looking statements” within the meaning of
applicable securities legislation (collectively, “forward-looking
information”). The forward-looking information contained in this
press release is based on information available to the Company as
of the date of this press release. Except as required under
applicable securities legislation, the Company does not intend, and
does not assume any obligation, to update this forward-looking
information. Generally, this forward-looking information can
frequently, but not always, be identified by use of forward-looking
terminology such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes",
or variations of such words and phrases or statements that certain
actions, events, conditions or results “will”, "may", "could",
"would", "might" or "will be taken", "occur" or "be achieved" or
the negative connotations thereof. All statements other than
statements of historical fact may be forward-looking statements. In
particular, this press release contains forward-looking statements
with respect to the use of proceeds from the Private Placement, the
success of future exploration activities; ability to build
shareholder value through discovery and resource development; and
other risks and uncertainties.
Forward-looking information is provided for the
purpose of providing information about management's current
expectations and plans and allowing investors and others to get a
better understanding of the Company's operating environment.
Forward-looking information is based on certain assumptions that
the Company believes are reasonable, including that the proceeds
will be used as currently intended, the current price of and demand
for commodities will be sustained or will improve, the supply of
commodities will remain stable, that the general business and
economic conditions will not change in a material adverse manner,
that financing will be available if and when needed on reasonable
terms and that the Company will not experience any material labour
dispute, accident, or failure of plant or equipment. These factors
are not, and should not be construed as being, exhaustive.
Forward-looking information is necessarily based
on estimates and assumptions that are inherently subject to known
and unknown risks, uncertainties and other factors that may cause
the actual results, level of activity, performance or achievements
of the Company to be materially different from those expressed or
implied by such forward-looking information, including but not
limited to: risks and uncertainties relating to, among other
things, failure to use the proceeds from the Private Placement as
currently intended, as well as other risks and uncertainties more
fully described under "Risks Factors" in the Company's Annual
Information Form available under the Company's profile at
www.sedar.com and the Company's website.
The forward-looking information contained in
this news release is made as of the date of this news release.
Except as required under applicable securities legislation, the
Company does not intend, and does not assume any obligation, to
update this forward-looking information. Although the Company has
attempted to identify important factors that would cause actual
results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated, or intended. There can
be no assurance that such statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. All of the forward-looking
information contained in this document is qualified by these
cautionary statements. Readers are cautioned not to place undue
reliance on forward-looking information due to the inherent
uncertainty thereof.
http://prlibrary-eu.nasdaq.com/Resource/Download/95d4b3fe-a912-43d6-ba36-cbca198c9bb5
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