Canamex Financing Oversubscribed from $2,700,000 to $2,933,820
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 3, 2012) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Canamex Resources Corp. (TSX VENTURE:CSQ)(FRANKFURT:CX6) announces further to its July 30, 2012 News Release that its $2,700,000 unit financing is over-subscribed to $2,933,820, subject to acceptance from the TSX Venture Exchange (the "Exchange").
Accordingly, upon receipt of acceptance from the Exchange, the Company will issue a total of 10,866,000 Units (the "Units") at a price of $0.27 per Unit, each Unit consisting of one common share and one share purchase warrant, each warrant entitling the holder thereof to purchase one additional common share, exercisable for a period of two years from the date of issuance at a price of $0.40 per share in the first year, and thereafter at a price of $0.50 in the second year (provided that in the event that the weighted average closing price of the Company's shares on the Exchange equals or exceeds Cdn$0.75 during any 20 consecutive trading days commencing four (4) months after the date of issuance of the Warrants, then the Company may within 30 days of such an occurrence give notice in writing to the holders of the Warrants that the Warrants shall expire at 5:00 p.m. (Vancouver time) on the 20th business day following delivery of such notice unless exercised by the holders of the Warrants prior to such time).
A further News Release will be disseminated once acceptance has been received from the Exchange to either the original $2,700,000 or the over-subscribed financing, and the shares and warrants have been issued.
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