NGEx Minerals Upsizes Private Placement Of Shares To C$175 Mln

(RTTNews) - NGEx Minerals Ltd. (NGEX.TO), Tuesday announced its decision to increase the previously announced non-brokered private placement to an aggregate of 7 million shares at a price of C$25 per share, amounting to a total of C$175 million.

The proceeds will be utilized regarding exploration programs at the Lunahuasi project in San Juan Province, Argentina, including, if permits are approved, construction of an exploration adit including any supporting infrastructure, work in support of an application for inclusion of the Lunahuasi project under Argentina's RIGI, continued exploration and maintenance of the company's Los Helados project located in Region III, Chile.

Currently, NGEx's stock is trading at C$25.55, down 1.04 percent on the Toronto.