GoviEx closes C$6m private placement

6th June 2018 By: Marleny Arnoldi - Deputy Editor Online

TSX-listed uranium miner GoviEx has closed a private placement of 35.6-million shares at a price of C$0.17 apiece, with each unit comprising one Class A common share and one Class A common share purchase warrant, for gross proceeds of C$6-million.

Each warrant entitles the holder to buy one Class A common share of the company over a 36-month period at a price of $0.21 until June 5, 2019, $0.24 until June 5, 2020, and $0.28 until June 5, 2021.

The net proceeds from the private placement will be used to fund continued exploration and development activities on GoviEx’s projects, for working capital, and for general corporate purposes.