Detector Exploration Ltd. (the "Corporation") (TSX VENTURE:DEX) is pleased to
announce that, subject to regulatory and shareholder approval, it has agreed to
a non-brokered private placement of up to 4,000,000 Units at a price of $0.05
per Unit for gross proceeds of $200,000. Each Unit is comprised of one (1)
common share and one (1) common share purchase warrant (the "Warrant"). Each
Warrant entitles the holder thereof to purchase one (1) common share for a
period of two (2) years from the date of issuance. The Warrants are exercisable
at a price of $0.05 per common share. The proceeds will be used for further
exploration and development of the Corporation's properties and for general
working capital.


As one of the subscribers to the private placement who will be taking up
2,000,000 Units, is currently a director of the Corporation and the private
placement will create a new insider and, upon the exercise of the warrants, two
(2) new control persons (as those terms are defined by the TSX Venture Exchange)
the Corporation intends to obtain shareholder approval through the written
consent of disinterested shareholders owning a minimum of 50% of the
disinterested common shares. 


This update contains "forward looking statements" within the meaning of the
United States Private Securities Litigation Reform Act of 1995 and applicable
Canadian securities legislation. Generally, these forward looking statements can
be identified by the use of forward looking terminology such as "plans",
"anticipated", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases or state
that certain actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved". Detector is subject to significant
risks and uncertainties which may cause the actual results, performance or
achievements to be materially different from any future results, performance, or
achievements expressed or implied by the forward looking statements contained in
this release. Detector cannot assure investors that actual results will be
consistent with these forward looking statements and Detector assumes no
obligation to update or revise the forward looking statements contained in this
release to reflect actual events or new circumstances.


Almadex Minerals (TSXV:DEX)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Almadex Minerals Charts.
Almadex Minerals (TSXV:DEX)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Almadex Minerals Charts.