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| | January 12, 2010
Prominex Announces Private Placement
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| | Vancouver, BC---Prominex Resource Corp. (TSX:V-PXR) announced today that the company is offering a private placement of 5,000,000 units ("Units") at CAD$0.05 per unit. Each Unit will consist of one common share ("Common Share") and one common share purchase warrant ("Warrant"). Each whole warrant will be exercisable at CAD$0.10 into one common share for a period of 12 months from Closing.
The offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and other regulators. The securities issued pursuant to the offering will be subject to a four month hold period from date of issuance.
The proceeds from this financing will be used for general working capital including other financing initiatives. A finder's fee of up to 10% may be paid to arms length parties with respect to the private placement.
ON BEHALF OF THE BOARD OF DIRECTORS:
"Gordon Barron"
President and CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Gordon Barron
President and CEO
Prominex Resource Corp.
1.604.566.1094
info@prominex.ca
www.prominex.ca |
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