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Cap-Ex Ventures Announces Private Placement Offering, Price Jumps More Than 13%

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Cap-Ex Ventures (CEV.V) this morning announced a non-brokered private placement financing for the sale of 12 million units at 85 cemts per unit for total gross proceeds of $10.2 million. Each unit is to consist of one common share of the company and one share purchase warrant. Each warrant will entitle the holder to purchase one common share of the xompany at the exercise price of 95 cents for a period of two years.

Forbes & Manhattan, Inc. have agreed to subscribe for the majority of the financing. Insiders of the Company and other persons will subscribe for an aggregate of 2 million units. The 2 million units being purchased by insiders of the Company and other persons are flow-through units while the remaining 10 million units in the financing are non flow-through. The unit price and warrant exercise price of the Flow-Through Units and the Non Flow-Through Units are the same. No commissions or finder's fees are payable on the Financing.

Cap-Ex expects to use the proceeds of the financing for further exploration and development of the Company's Labrador properties.

Cap-Ex shares are currently trading at $1.11, up 13 cents from its previous close of 98 cents. More than 1.3 million shares have been traded so far.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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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.

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