Kimex offering

Value of an offering carried out by Kimex Resources recently admitted to trading on the Montreal Exchange (symbol kmx), was $450,000.

Kimex, with offices in Rouyn- Noranda, Que., owns three properties in Quebec and one in Ontario, and is pursuing a 50% undivided interest in another Ontario property.

The company reports it intends to spend about $180,000 in exploration work on its Cairo property in Ontario and about $157,500 on the Royal-Roussillon-Poularies property in Quebec. The remainder of the proceeds of the offering will be allocated to future property acquisitions and to augment working capital.