Fieldex Exploration announces a non-brokered private placement

Canada NewsWire

ROUYN-NORANDA, QC, March 8, 2017

ROUYN-NORANDA, QC, March 8, 2017 /CNW Telbec/ - Fieldex Exploration Inc. (TSXV: FLX) (Frankfurt: F7E) announces that it will effect a non-brokered private placement in a maximum amount of $500,000 by issuing a maximum of 5 million units at a price of $0.10 per unit.  Each of the units will consist of one common share in the capital of Fieldex and one-half of a common share purchase warrant.  Each full warrant will entitle its holder to purchase one additional common share of Fieldex at an exercise price of $0.15 for a period of 36 months from the closing date of the private placement.

In connection with the private placement, Fieldex may pay a cash sales commission to various securities dealers in an aggregate amount of 8% of the gross proceeds of the private placement.  In addition, Fieldex may grant agents' options to various securities dealers entitling the holders to acquire additional common shares in an aggregate amount representing 8% of the total number of units issued and sold in the private placement. The agents' options may be exercised at a price of $0.10 for a period of 36 months from the closing date of the private placement, which is expected to take place on or about March 22, 2017.

The private placement is subject to approval of the TSX Venture Exchange.

About Fieldex

Fieldex is a mineral resource company actively exploring in Québec. As of the date hereof, Fieldex has 10,328,553 common shares issued and outstanding