FenixOro - CEO, John Carlesso.
CEO, John Carlesso.
Source: FenixOro.
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  • 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.

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