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ActivEX to raise funds at a premium in private placement

ActivEX (ASX:AIV) is raising funds through a private placement to fund exploration.

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ActivEX is raising funds.

The company has entered agreements with ASF Gold and Copper Pty Ltd and Start Grand Global Limited to place 15.625 million shares at $0.08 to raise $1.25 million.

The issue price is a 38% premium to the last traded price of $0.058.

Following receipt of the Placement funds ASF Gold and Copper Pty Ltd will hold 19.61% and Start Grand Global Limited will hold 7.57% of ActivEX.

Exploration recently in Queensland yielded rock assays of 38.9% copper and 49.5g/t gold.

Quick facts: ActivEX

Price: 0.175 AUD

ASX:AIV
Market: ASX
Market Cap: $31 m
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