It appears folks are hearkening to the sound of up-and-comers in the technology field, by the volume of shares being bought up in a British Columbia firm.
Surrey-based Mineworx Technologies Ltd. (TSX-Venture: MWX) told investors Wednesday it has closed the previously announced financings for gross proceeds of $1,000,500.
Wednesday’s news release revealed Mineworx has sold 11.7 million units for total gross proceeds of $880,500 including proceeds of $420,000 previously announced in the first tranche. Each unit is comprised of one common share of the Issuer and one share purchase warrant.
It could be perfect for investors willing to cool their heels a bit: the shares are subject to a four-month hold and the warrants are exercisable to acquire an additional common share at a price of $0.10 expiring 48 months after issuance.
MWX shares added half a cent just before noon EDT on Wednesday, or 9.1%, to six cents, on volume of 687,000 shares.
