The Conversation (0)
Geologix Explorations Inc. (TSE:GIX) announced it has entered into an agreement with a syndicate of underwriters co-led by Wellington West Capital Markets Inc. and Raymond James Ltd. under which the Underwriters have agreed to buy from GIX, on a bought deal basis, 30,304,000 common shares at an issue price of $0.66 per common share for gross proceeds of $20,000,640.
The press release is quoted as saying:
The net proceeds are intended to be used to fund a pre-feasibility study for the Company’s Tepal project and for working capital and general corporate purposes. Closing of the Offering is expected to occur on or about March 1, 2011.
Click here to access the entire press release.
Click here to access Geologix Exploration’s company profile.