Reflex Advanced Materials (CSE: RFLX) (OTCQB: RFLXF) (FSE: HF2), a mineral exploration company, has upsized its nonbrokered private placement financing, which had been announced initially in August. The first two tranches of the offering closed earlier this month, and the offering now consists of up to 7,500,000 units of the company offered at $0.20 per unit, resulting in an anticipated $1.5 million gross proceeds; the original projection was for $1 million. According to the announcement, each unit of the offering includes one common share in the capital of the company and one-half of one share purchase warrant, with each whole warrant entitling the holder to purchase an additional share at an exercise price of $0.35 for a period of 24 months from the date of issuance. The announcement noted that closing of the offering is anticipated prior to Nov. 6, 2023, and is dependent on certain conditions and approvals. Reflex Advanced Materials anticipates using the gross proceeds from the offering to advance its Ruby Graphite Project along with other general corporate purposes.
To view the full press release, visit https://ibn.fm/Byx3T
About Reflex Advanced Materials Corp.
Reflex Advanced Materials is a mineral exploration company based in British Columbia. Its objective is to locate and, if warranted, develop economic mineral properties in the strategic metals and advanced materials space. The company is focused on improving domestic specialty mineral infrastructure efficiencies to meet surging national demand by North American manufacturers. The company is also working to advance its Ruby Graphite Project, located in Beaverhead County, Montana, and ZigZag Property, located in Thunder Bay Mining Division, Crescent Lake Area, Ontario. For more information about the company, visit www.ReflexMaterials.com.
NOTE TO INVESTORS: The latest news and updates relating to RFLXF are available in the company’s newsroom at https://ibn.fm/RFLXF
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