Cap-Ex Ventures Ltd. (TSXV:CEV) announced the closing of the third tranche of its non-brokered private placement. The tranche closed for gross proceeds of approximately $740,000.
As quoted in the press release:
Cap-Ex intends to use the proceeds from the sale for continued exploration of Cap-Ex’s wholly-owned Block 103 Project in western Labrador and for general corporate purposes. The gross proceeds raised from the issuance of the Flow-Through Shares will be used by Cap-Ex to incur “Canadian exploration expenses” (within the meaning of the Income Tax Act (Canada)) on properties located in Canada.
Get our expert guide to base metals investing FREE!Download this FREE Special Report, Investing Opportunity: Using LME Prices and Base Metals News.