Argentex Mining Corporation (ATX.V) said Austral Gold Limited has agreed that it, or one of its affiliates, will purchase in a private placement 17,347,866 units of the company at a price of $0.2882 per unit for gross proceeds of $5 million.
Each unit will consist of one Argentex common share and one-half of one share purchase warrant. And each unit warrant will entitle the holder to purchase one additional Argentex common share at an exercise price of $0.40 for a period of 60 months from closing.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
