FenixOro - CEO, John Carlesso.
CEO, John Carlesso.
Source: FenixOro.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • FenixOro (FENX) has closed the first tranche of its private placement for gross proceeds of C$2.39 million
  • The company intends to use the proceeds to accelerate its phase 2 drilling program at the Abriaqui Project
  • It will close the second tranche of the private placement in the coming weeks for anticipated total gross proceeds of up to $3 million
  • FenixOro Gold is focused on acquiring gold projects with world-class exploration potential in Colombia
  • FenixOro (FENX) is unchanged trading at $0.295 per share

FenixOro (FENX) has closed the first tranche of its private placement for gross proceeds of C$2.39 million.

The company issued 7,725,531 units priced at $0.31 per unit for gross proceeds of $2,394,914.61.

Each unit consists of one FenixOro common share and one common share purchase warrant.

Each warrant is exercisable for one common share priced at $0.34 per share for two years from their date of issuance. 

The company intends to use the proceeds to accelerate its phase 2 drilling program at the Abriaqui Project. It will increase the number of drill rigs to identify new discovery targets, particularly on the highly prospective southeastern block.

It will close the second tranche of the private placement in the coming weeks for anticipated total gross proceeds of up to $3 million.

FenixOro Gold is focused on acquiring gold projects with world-class exploration potential in Colombia.

FenixOro (FENX) is unchanged trading at $0.295 per share as of 2:22 pm EST.

More From The Market Herald

" Kinross (TSX:K) announces increase to normal course issuer bid

Kinross Gold Corporation (K) has received approval from the TSX to amend its normal course issuer bid (NCIB) effective October 4, 2022.

" Foraco International (TSX:FAR) renews NCIB

Foraco International SA (FAR) has received approval to renew its normal course issuer bid.

" Skyharbour Resources (TSXV:SYH) begins trading on the OTCQX

Skyharbour Resources (SYH) began trading today on the OTCQX Best Market under the symbol SYHBF.

" Deep South Resources (TSXV:DSM) closes non-brokered private placement

Deep-South Resources (DSM) has closed its non-brokered private placement for gross proceeds of $392,000.