Plexus Resources Corp. and Golden Knight Resources Inc. said they have agreed to extend the closing date of their 1 million-unit private placement from Sept. 30, to Nov. 30, subject to regulatory approval.
In the private placement, Plexus agreed to sell 1 million units composed of one common share and one-half share purchase warrant for $3 per unit to Golden Knight. Each warrant has a three-year term and will entitle the holder to purchase one common share for $3.75 if exercised during the first year, for $5 if exercised during the second year and for $6 if exercised during the final year.All amounts are in Canadian dollars.
The companies said proceeds are to be used for project development and general working capital requirements.
Plexus Resources Corp. is a Salt Lake-based company that explores and develops of natural resources in Canada and the United States.