|By Marketwired .||
|April 30, 2014 01:31 PM EDT||
LA PRAIRIE, QUEBEC -- (Marketwired) -- 04/30/14 -- Vantex Resources Ltd. (the "Company")(TSX VENTURE: VAX)(FRANKFURT: UD7A)(ALP: VAX) announces the completion of a $75,600 non-brokered financing.
The Company sold 63 Flow-Through units (the "FT Units") at a purchase price of $1,200 per FT Unit, for a total amount of $75,600. Each FT Units consists of 16,000 flow-through common shares and 4,000 common shares at a price of $0.06 per share and 10,000 common share purchase warrants. Each whole warrant will entitle the holder to purchase one additional common share in the capital of the Company for a period of 12 months from the date of issuance, at a purchase price of $0.10 per share.
The expenses will constitute flow-through mining expenditure as described in subsection 127(9) of the Income Tax Act (Canada); and will qualify for inclusion in both: the exploration base relating to certain Quebec exploration expenses, and the exploration base relating to certain Quebec surface mining exploration expenses as these terms are defined in the Taxation Act (Quebec).
No finder's fee was paid in relation to this financing. The securities issued as part of this placement are subject to a minimum hold until September 1st, 2014 and subject to the approval of the TSX Venture exchange.
Annual General Meeting of shareholders
Company shareholders approved the 2 propositions submitted by management at the Annual General Meeting of shareholders that was held on April 29.
For the proposition regarding the election of directors, 99.71 % of the votes cast were in favor of the proposed candidates;
For the proposition regarding the appointment of the auditors, 99.8 % of the votes cast were in favor of the proposition;
28.06 % of the outstanding shares were voted.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.