“We are very pleased the Investment Fund has taken this additional position in our Company,” Roy Bonnell, President and Chief Executive Officer of Argex, commented. “As they have indicated in this process their interest in participating in the project financing of the full scale production at the first industrial-sized plant in Valleyfield, Quebec, we are confident they will be a very important partner as we move forward.”
The shares issued at closing are subject to a four-month “hold period” under applicable Canadian securities legislation and the policies of the TSX Venture Exchange. Upon closing of the private placement, there are 131,915,269 common shares of Argex issued and outstanding.
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