Corex Gold Corporation
Gold exploration & development in Mexico
Message: Announces Private Placement
| May 25, 2009 |
| Corex Announces Private Placement |
| VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 25, 2009) - Corex Gold Corp. (the "Company") (TSX VENTURE:CGE) is pleased to announce a non-brokered private placement of up to 3,000,000 units at a price of $0.20 per unit, for aggregate gross proceeds of up to CDN$600,000. Each unit will consist of one common share and one warrant, exercisable by the holder to acquire one additional common share at a price of $0.32 in year one and $0.45 in year two. The warrants are subject to an accelerated expiry which comes into effect once the shares trade above a weighted average price of $0.50 for any twenty consecutive trading-day period in year one, or $0.65 for any twenty consecutive trading-day period in year two, subsequent to four months from Closing. In the event of an accelerated expiry, the expiry date will be the earlier of the regular two year expiry date and 30 days from the date the Company advises the placees of the accelerated expiry. The net proceeds from this private placement will be used for additional exploration on Corex's Santana project and for general working capital purposes. The proposed financing is subject to the approval of the TSX Venture Exchange. ON BEHALF OF THE BOARD Craig D. Schneider, President & CEO |
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