BMEX Gold Inc (TSX-V:BMEX) has announced a private placing to raise up to $700,000 gross to further explore and evaluate its Dunlop Bay project in Quebec, Canada.
The company will issue up to around 9.33 million flow-through shares at C$0.075 each.
All securities issued are subject to a statutory hold period of four months, said the company, and as consideration for services provided in connection with the offering, BMEX said it will pay a finder's fee of 6% of the gross proceeds.
READ: BMEX Gold reports encouraging visual results from first two holes at maiden program at Dunlop Bay
In October this year, BMEX Gold reported encouraging visual results from its first two holes sunk at the Dunlop Bay Ouest anomaly at the Dunlop Bay project, which included a new discovery in one hole of 3.85 metres (m) of massive sulphides.
Earlier in the month, the firm had begun a maiden 3,000m drill program at the 4,226 hectare (Ha) property in the Abitibi greenstone belt.
Exploration company BMEX has 100% interest in two projects in the prolific belt.
As well as Dunlop Bay, it holds the King Tut project, which consists of 120 contiguous claims over 5,206 hectares and lies 65 kilometres (km) east of Amex Exploration's Perron property.
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