Venturex Resources: Raising up to $4M
- Venturex Resources (VXR) hopes to raise up to $4 million through a placement and share purchase plan
- Then the company has already received commitments for a $2.5 million placement under which it will issue 45.45 million new shares at 5.5 cents each
- Under the share purchase plan, existing shareholders can subscribe for up to $30,000 of new shares at 5.5 cents per share to raise $1.5 million
- Venturex will use the funds for follow-up exploration of high-grade intersections from the Breakers drill program conducted last year
- The company will also use the money to advance secondary approvals for the Sulphur Springs Copper-Zinc Project and for general working capital
- Company shares have dipped 4.69 per cent in the red and are trading for 6.1 cents each
