TORONTO, Dec. 27 - Temex Resources Corp. (TSX Venture Exchange:TME, Frankfurt:TQ1) ("Temex" or "the Company") announces the closing of a non-brokered private placement of 2,352,940 flow-through shares at a price of $0.85 per share, raising gross proceeds of approximately $2,000,000.
In connection with the Offering, the Company paid an aggregate finder's fee comprised of $140,000 cash and 164,706 non-transferable warrants of the Company (the "Finder Warrants"). Each Finder Warrant entitles the holder to purchase one common share of the Company at a price of $1.10 until December 27, 2009.
The proceeds of the Offering will be used to advance the Company's McFaulds Lake area land holdings, the Whitney Township Gold Property in Timmins, and the Gowganda Silver Property in Gowganda, Ontario, as well as the Company's other mineral properties.
The securities issued under the Offering are subject to a hold period expiring on April 28, 2008.
Temex is a Canadian exploration company focused on advancing its extensive property portfolio.
On behalf of the Board of Directors,
"Ian Campbell"
Ian Campbell
President and CEO
This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
*The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release*
Contacts
on Temex
please contact Ian Campbell
or Bruce Durham
at (416) 862-2246 or visit the Company website at
www.temexcorp.com
