Gax announced that they plan to issue up to 2.5M units consisting of common shares & warrants,also flow-thru shares and warrants for gross proceeds of up to $275,000.
Each regular unit is priced at $0.09 which consists of one share & one warrant,each warrant is excercisable at$0.15 from date of purchase to Nov30 2012. The proceeds from this will be used for working capital.
Each flo-thru unit is priced at $0.11 and consists of one flo-thru share and one warrant.Each warrant ,as above, shall entitle the subscriber to purchase one additional share at $0.15 from date of issue up to Nov 30 2012.
The money from the flo-thru units will be used for diamond drilling and down-hole
geophysics exploration at GAX Regcourt Property.
Taken from Nor Miner