EXPLOREX RESOURCES INC. ("EX")
[formerly Explorex Capital Ltd. ("EX.P")]
BULLETIN TYPE: Qualifying Transaction-Completed/New Symbol, Private Placement-Non-Brokered, Name Change and Resume Trading
BULLETIN DATE: June 11, 2012
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing the Company's Qualifying Transaction (the 'QT') and related transactions, all as principally described in the Company's Filing Statement dated May 29, 2012 (the 'Filing Statement'). As a result, effective at the opening, Tuesday, June 12, 2012, the Company will no longer be considered a Capital Pool Company and will resume trading. The QT includes the following matters, all of which have been accepted by the Exchange:
1. Option agreement to acquire 85% interest in the Porcupine Property, New Brunswick:
TSX Venture Exchange has accepted for filing an Option Agreement (the 'Agreement') between the Company and Greenlight Resources Ltd. ('Greenlight'), whereby the Company has the right to earn an 85% interest in the Porcupine Property, located in the Northumberland County, New Brunswick, by paying an aggregate $180,000 ($25,000 has been paid to date), issuing 850,000 shares to Greenlight and incurring $1,000,000 in exploration expenditures.
The Exchange has been advised that the above transaction, which did not require shareholder approval of the Company, has been closed.
2. Private Placement-Non-Brokered:
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced November 29, 2011:
Number of Shares: 1,417,500 shares
Purchase Price: $0.20 per share
Warrants: 1,417,500 share purchase warrants to purchase 1,417,500 shares
Warrant Exercise Price: $0.30 for a one year period
Number of Placees: 35 placees
Insider / Pro Group Participation:
Insider=Y /
Name ProGroup=P / # of Shares
Daniel Seiter P 100,000
Finder's Fee: $1,000 payable to Ivan Jacobsen
$16,350 payable to Canaccord Genuity Corp.
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly. Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.
3. Name Change and Resume Trading:
In addition to the above, the Company has changed its name. There is no consolidation of capital.
Effective at the opening, Tuesday, June 12, 2012 the common shares of Explorex Resources Inc. will recommence trading on TSX Venture Exchange. The Company is classified as a 'mining' company.
Capitalization: Unlimited shares with no par value of which
9,017,500 common shares are issued and outstanding
Escrow: 4,620,000 common shares are subject to 36 month staged release escrow
Transfer Agent: Equity Financial Trust Company
Trading Symbol: EX (same symbol as CPC but with .P removed)
CUSIP Number: 30217F102 (new)
Company Contact: Bill Wishart, President
Company Address: 214-1118 Homer Street
Vancouver, BC V6B 6L5
Company Phone Number: (604) 609-0555
Company Email Address: bill@explorex.ca
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