NGEx upsizes placement to lift C$30m

Canada-based copper and gold exploration firm NGEx has elected to extend its beforehand introduced nonbrokered personal placement to an combination of as much as 15-million shares at C$2 every for gross proceeds of as much as C$30-million.

The Lundin Group firm initially deliberate to lift C$20-million by promoting 10-million shares.

Web proceeds of the personal placement can be used in direction of furthering exploration programmes in Chile and Argentina, the compensation of quantities drawn in opposition to a $3-million credit score facility that matures in September 2023, if any, in addition to for common company and dealing capital functions.

NGEx at present has a controlling curiosity within the large-scale Los Helados copper/gold deposit, positioned in Chile’s Area III, in addition to a portfolio of exploration tasks in Argentina, together with the Valle Ancho mission in Catamarca province, and the Potro Cliffs, positioned in San Juan province about 5 km north of, and on the identical main northeast-trending construction as, Filo del Sol.

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