VANCOUVER, British Columbia, Dec. 15, 2023 (GLOBE NEWSWIRE) -- Reflex Advanced Materials Corp. (CSE:RFLX), (OTCQB:RFLXF), (FSE:HF2) ("Reflex" or the "Company") is pleased to announce a non-brokered private placement of units ("Units") at a price of $0.10 per Unit for gross proceeds of up to $1,000,000 (the "Offering").
Each Unit will be comprised of one common share of the Company (each, a "Share") and one common share purchase warrant of the Company (each, a "Warrant"), with each Warrant exercisable to acquire one common share of the Company (each, a "Warrant Share") at a price of $0.15 per Warrant Share for a period of twenty-four months from the date of issuance. The Company intends to use the net proceeds raised from the Offering to undertake advanced exploration and development activities on the Ruby Graphite Property and for general working capital.
All securities issued in the Offering will be subject to a statutory hold period of four month and one day. The Company may pay finder's fees in connection with the Offering. Closing of the Offering is subject to receipt of all regulatory approvals, including approval of the Canadian Securities Exchange.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale ...