CANEX Metals Increases Private Equity Financing Due to Strong Investor Demand

CANEX Metals Inc. has announced an increase in its previously declared non-brokered private placement. The company now plans to offer up to 23,636,364 common shares, generating potential gross proceeds of $1,300,000. These shares are priced at $0.055 each and are available to accredited investors.

The private placement is subject to approval by TSX-V and regulatory bodies, with a hold period of four months plus a day. CANEX has leveraged exemptions from certain valuation and shareholder approval norms, as the private placement value remains below 25% of the company’s market capitalization.

Funds raised will further district consolidation and exploration in the Gold Range and Louise projects, beside general capital use. No dealer commissions will be paid.