NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
QUEBEC CITY - July 09, 2024 (GLOBE NEWSWIRE) -- Robex Resources Inc. (TSXV: RBX) (“Robex” or the “Company”) is pleased to announce that, further to the Company’s June 17, 2024 news release, the Warrants (as defined below) will be listed for trading on the TSX Venture Exchange (“TSXV”) under the symbol “RBX.WT” effective as of the opening of markets on July 10, 2024. All currency amounts in this news release are stated in Canadian dollars, unless otherwise indicated.
On June 27, 2024, the Company closed its previously announced “best efforts” public offering of 58,294,880 units of the Company (each, a “Unit”) at a price of $2.17 per Unit for gross proceeds of $126,499,889.60 (the “Offering”). The Offering was led by SCP Resource Finance LP, as sole bookrunner and lead agent (the “Lead Agent”), on behalf of a syndicate of agents including BMO Nesbitt Burns Inc. (collectively, the “Agents”). The number of Units sold and gross proceeds realized by the Company have been adjusted to reflect the exercise in full by the Agents of the over-allotment option granted to purchase from the treasury of the Company an additional number of Units equal to 15% of the number of the Units issued pursuant to the Offering.
Each Unit is comprised of one (1) common share in the capital of the Company (each a “Common Share”) and one (1) Common Share purchase warrant (each a “Warrant”). Each Warrant entitles the holder thereof to acquire one (1) Common Share of the Company at an exercise price of $2.55 per Common Share, until the date that is two (2) years following the closing date of the Offering, subject to adjustment in certain customary events, provided that in the event the Common Shares trade at a volume weighted average price of $3.50 or higher over a period of 10 consecutive trading days, the Corporation can accelerate the exercise of the Warrants to 10 days post provision of notice, which shall be not less than 30 calendar days following delivery of such notice.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the Units, including the underlying Common Shares and Warrants (and the common shares issuable upon the exercise of the warrants), in any jurisdiction in which such offer, solicitation or sale would be unlawful, including in the United States of America. Such securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.