Jordex to issue special warrants

Vancouver-based Jordex Resources (TSE) has set the terms of a private placement of 4 million special warrants at $1.30 each.

Each special warrant will entitle the holder to acquire one unit consisting of a common share and a common share purchase warrant. The purchase warrant will allow the holder to buy an additional common share at $2 over two years, following the close of the private placement.

If a receipt for the prospectus is not received 120 days after the placement closes, holders of special warrants can elect to have up to half of their special warrants redeemed by the company at a price equal to the subscription price plus accrued interest. Alternatively, they can choose to receive 1.1 common shares instead of one share.

Proceeds will be used to explore gold and nickel properties in South America and complete an earn-in with BHP Minerals on the Hushamu copper-gold porphyry deposit on Vancouver Island, B.C.