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NGEx Resources Inc.


December 15, 2017

NGEx Announces Increase in Private Placement to Cdn $12.5 Million

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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 15, 2017) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

NGEx Resources Inc. (TSX:NGQ)(NASDAQ OMX:NGQ) ("NGEx" or the "Company") is pleased to announce that due to strong demand, the Company will increase the non-brokered, private placement announced on December 14, 2017 from Cdn $10 million to Cdn $12.5 million The Company will now sell an aggregate of up to 12.5 million common shares (the "Common Shares") at a price of $1.00 per Common Share for gross proceeds of up to Cdn $12.5 million (the "Private Placement").

A 5% finders' fee may be payable on a portion of the Private Placement. 

The Common Shares will be offered by way of prospectus exemptions in Canada and the Common Shares sold in the Private Placement will be subject to a hold period of four months plus one day. In connection with the Private Placement, it is anticipated that shareholders who are currently insiders of the Company intend to participate in the Private Placement.

Completion of the Private Placement will be subject to regulatory approval, including the approval of the Toronto Stock Exchange, and certain other customary conditions including, but not limited to, execution of subscription agreements between the Company and the subscribers.

Net proceeds of the Private Placement will be used towards ongoing work programs in Chile and Argentina as well as for general corporate purposes. 

The issuance of Common Shares to insiders constitutes a "related party transaction", as defined under Multilateral Instrument 61-101 ("MI 61-101"). The transactions will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any Common Shares issued to nor the consideration paid by such persons would exceed 25% of the Company's market capitalization.

This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the U.S., or in any jurisdiction in which such an offer or sale would be unlawful. The securities described herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any U.S. state securities laws and may not be offered or sold in the U.S. or to the account or benefit of a U.S. person or a person in the U.S. absent registration or an applicable exemption from the registration requirements.

About NGEx

NGEx is a Canadian mineral exploration company with exploration projects in Chile and Argentina. The Company's shares are listed on the TSX and on Nasdaq Stockholm under the symbol "NGQ". The Company's focus is on advancing the development of its two large copper-gold deposits, Los Helados and Josemar�a, located in Chile's Region III and adjacent San Juan Province, Argentina. The Company owns a 100% interest in the Josemaria project and is the majority partner and operator for the Los Helados project. Los Helados is subject to a Joint Exploration Agreements with its joint exploration partner in Chile, Pan Pacific Copper ("PPC").

Additional Information

This information is information that NGEx Resources Inc. is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out below, on December 15, 2017 at 9:30 a.m. Pacific Time.

On behalf of the board

Wojtek Wodzicki, President and CEO

Cautionary Note Regarding Forward-Looking Statements

Certain statements made and information contained herein in the press release constitutes "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation (collectively, "forward-looking information"). The forward-looking information contained in this press release is based on information available to the Company as of the date of this press release. Except as required under applicable securities legislation, the Company does not intend, and does not assume any obligation, to update this forward looking information. Generally, this forward-looking information can frequently, but not always, be identified by use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events, conditions or results "will", "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotations thereof. All statements other than statements of historical fact may be forward-looking statements. In particular, this press release contains forward-looking statements with respect to the closing of the Private Placement, the insider participation in the Private Placement, the use of proceeds from the Private Placement, the success of future exploration activities; ability to build shareholder value through discovery and resource development; and other risks and uncertainties.

Forward-looking information is provided for the purpose of providing information about management's current expectations and plans and allowing investors and others to get a better understanding of the Company's operating environment. Forward-looking information is based on certain assumptions that the Company believes are reasonable, including that any necessary approvals will be obtained, the proceeds will be used as currently intended, the current price of and demand for commodities will be sustained or will improve, the supply of commodities will remain stable, that the general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed on reasonable terms and that the Company will not experience any material labour dispute, accident, or failure of plant or equipment. These factors are not, and should not be construed as being, exhaustive.

Forward-looking information is necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks and uncertainties relating to, among other things, among other things, failure to receive required approvals, the possibility that investors will not subscribe for the Private Placement and the risk that closing conditions may not be satisfied as well as other risks and uncertainties more fully described under "Risks Factors" in the Company's Annual Information Form available under the Company's profile at www.sedar.com and the Company's website.

The forward-looking information contained in this news release is made as of the date of this news release. Except as required under applicable securities legislation, the Company does not intend, and does not assume any obligation, to update this forward-looking information. Although the Company has attempted to identify important factors that would cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. All of the forward-looking information contained in this document is qualified by these cautionary statements. Readers are cautioned not to place undue reliance on forward-looking information due to the inherent uncertainty thereof.

 

CONTACT INFORMATION:

    Sophia Shane
    Corporate Development
    (604) 806-3575
 


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Data and Statistics for these countries : Argentina | Canada | Chile | All
Gold and Silver Prices for these countries : Argentina | Canada | Chile | All

Ngex Resources Inc.

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CODE : NGQ.TO
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Ngex is a zinc and gold exploration company based in Canada.

Ngex holds various exploration projects in Colombia.

Its main exploration properties are CERRO CUADRADO, FILO DEL SOL and JOSEMARÍA in Argentina, MOULE and NYIEME in Burkina Faso, ZYMO and GJ KINASKAN in Canada, LINQUE 1, LINQUE 2, TALADRO 1 and TALADRO 2 in Peru, LOS HELADOS in Chile, HAMBOK in Eritrea and MANDÉ and PIEDRANCHA in Colombia.

Ngex is listed in Canada. Its market capitalisation is CA$ 237.0 millions as of today (US$ 175.9 millions, € 157.0 millions).

Its stock quote reached its lowest recent point on February 06, 2009 at CA$ 0.21, and its highest recent level on September 23, 2011 at CA$ 4.00.

Ngex has 213 470 000 shares outstanding.

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Financings of Ngex Resources Inc.
1/30/2013New Release - NGEx $34 MILLION PRIVATE PLACEMENT CLOSED
1/16/2013NGEX ANNOUNCES $34 MILLION PRIVATE PLACEMENT
Nominations of Ngex Resources Inc.
6/20/2013Announces Election of Directors
9/2/2011Bob Carmichael Appointed Vice President, Exploration
Financials of Ngex Resources Inc.
5/7/2016Reports First Quarter 2016 Results
8/8/2015Reports Second Quarter 2015 Results
8/6/2013Second Quarter 2013 Financial and Operational Highlights
Project news of Ngex Resources Inc.
11/1/2013(Los Helados)UPDATED METALLURGICAL TEST RESULTS AND FILING OF TECHNICAL R...
8/1/2012(Hambok)NGEx SELLS HAMBOK PROJECT IN ERITREA TO BISHA MINING SHARE C...
7/4/2012AND NAMIBIAN COPPER AGREE TO TERMINATE AGREEMENT ON ERITREAN...
1/18/2012NGEx SIGNS AGREEMENT WITH NAMIBIAN COPPER ON ERITREAN BASE M...
11/28/2011COMMENCES 2011-2012 DRILL PROGRAM ON JOSEMARIA COPPER/GOLD ...
8/15/2011DRILLING COMMENCES AT BADA POTASH PROJECT IN ERITREA
6/16/2011(Los Helados)Final Drill Holes of the Season Confirm Major Copper-Gold Di...
5/5/2011(Los Helados)Reports Further Excellent Drill Results From Los Helados, Ch...
4/1/2011(Los Helados)Drills 701 Metres of 0.67% Copper and 0.30 g/t Gold in Hole ...
Corporate news of Ngex Resources Inc.
12/16/2015NGEx Files Technical Report Updating the Mineral Resource Es...
11/23/2015NGEx Announces Significant Increase in Resource at Filo Del ...
11/4/2015Skeena Acquires GJ Copper-Gold Project
10/6/2015Skeena Acquires GJ Copper-Gold Project
10/5/2015NGEx Announces Sale of Its 49% Interest in the GJ Project
4/16/2015NGEx Drills 42 Metres of 1.13 g/t Gold and 145.6 g/t Silver ...
2/19/2015NGEx Drills 72 Metres of 339 g/t Silver at Filo Del Sol Proj...
2/19/2015NGEx 2014 Financial and Operational Highlights
12/31/2014NGEx Updated Share Capital and Voting Rights
12/19/2014NGEx Files Technical Report on Maiden Resource Estimate for ...
12/2/2014NGEx Reports Initial Filo del Sol Inferred Resource Containi...
11/28/2014Updated Share Capital and Voting Rights for NGEx
11/25/2014NGEx Files Technical Report on Los Helados
11/11/2014NGEx Reports Third Quarter 2014 Results
10/31/2014Updated Share Capital and Voting Rights for NGEx
10/23/2014NGEx Acquires 100% Interest in Filo Del Sol
10/20/2014NGEx Announces Positive Result of Preliminary Economic Asses...
8/7/2014NGEx Reports Second Quarter 2014 Results
6/30/2014NGEx Announces Updated Share Capital and Voting Rights
6/13/2014NGEx to Commence Trading on NASDAQ OMX Stockholm on June 19,...
6/12/2014NGEx Announces Election of Directors
6/4/2014NGEX Intends to Undertake CAD $30 Million Private Placement
5/6/2014NGEx Reports First Quarter 2014 Results
4/30/2014NGEx Drills 7.59% Copper Over 10 Metres and 314.5 g/t Silver...
4/24/2014NGEx Resources Inc.: Final Josemaria Drill Results
11/14/2013NGEX ANNOUNCES FILING OF TEC =?iso-8859-1?Q?HNICAL_REPORT_FO...
10/1/2013Announces Significant Increase in Resource at Josemaria
9/19/2013(Los Helados)Announces Updated Mineral Resource Estimate for Los Helados ...
8/19/2013MANAGEMENT UPDATE - News Release
7/17/2013(Los Helados)Intersects 0.46% Copper Equivalent Over 1,147 Metres at Los ...
7/8/2013Intersects 0.85% Copper Equivalent Over 250 Metres, Continue...
5/23/2013(Filo Del Sol)Intersects 38.1 Metres at 1.23% Copper Expanding High Grade ...
5/9/2013NGEX ANNOUNCES ANNUAL AND SPECIAL
5/9/2013Announces Annual and Special Meeting and Updates By-Laws
4/23/2013(Los Helados)Intersects 1.06% Copper Equivalent Over 304 Metres at Los He...
3/25/2013Intersects 0.78% Copper Equivalent Over 230 Metres and Expan...
11/8/2012(Los Helados)Announces Start of Los Helados Drill Program
10/15/2012(Los Helados)Announces Initial Mineral Resource Estimate and Metallurgica...
10/15/2012(Los Helados)Announces Initial Mineral Resource Estimate and Metallurgica...
10/10/2012(Hambok)Announces Closing of Hambok Sale
9/10/2012(Los Helados)NGEX ANNOUNCES PAN PACIFIC COPPER AS NEW PARTNER AT LOS HELA...
8/23/2012on GJ Copper Gold Project 2012 Exploration Program
8/7/2012(Filo Del Sol)Intersects 385 Metres at 0.68% Copper Equivalent at Filo del...
7/26/2012(Los Helados)Intersects 0.55% Copper Equivalent Over 1,014 Metres at Los ...
7/16/2012Intersects 1.27% Copper Equivalent Over 182 Metres and Expan...
6/19/2012(Filo Del Sol)Intersects 1.45% Copper Over 97.6 Metres and 393.7 g/t Silve...
5/23/2012Announces Josemaria Drill Results Including 172 Metres at 1....
5/2/2012on BNN today at 11:50 Toronto time
4/27/2012(Los Helados)Intersects 1,090 Metres at 0.69% Copper Equivalent at Los He...
4/12/2012NGEX ANNOUNCES DIVESTMENT OF CABALLLO BLANCO ROYALTY TO GOLD...
4/12/2012Announces Divestment of Caballlo Blanco Royalty to Goldgroup...
3/28/2012Announces Initial Drill Results From Josemaria Copper-Gold P...
2/10/2012Corporate Update
1/17/2012Signs Agreement With Namibian Copper on Eritrean Base Metal ...
12/13/2011Announces 141.2 Metres of 0.38% Cu and 0.53 g/t Au From GJ C...
11/28/2011Commences 2011-2012 Drill Program on Josemaria Copper/Gold P...
10/11/2011Announces $27 Million Private Placement
7/20/2011Announces Start of 2011 Exploration Program at GJ Copper Gol...
2/22/2011(Los Helados)Drills 711 Metres 0.54% Copper and 0.26 Grams/Tonnes Gold at...
2/15/2011Announces Major Exploration Programs Underway in South Ameri...
2/16/2010Granted Exploration Licenses in the Republic of Congo
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TORONTO (NGQ.TO)
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