Rex completes Euro-Financing Insiders participate
Symbol: RXD
Trading: Toronto Stock Exchange
TORONTO, Jan. 21 /CNW/ - Rex Diamond Mining Corporation today announced
that it has completed Euro-Private Placements totaling 4,341,428 CAD. A first
placement opened on 14 December, 1998 at 0.90 CAD a share was oversubscribed,
whereupon a second placement opened on Friday 15 January, 1999 at 1.25 CAD a
share was promptly completed. Proceeds are to be used to settle current
liabilities and to fund the Mauritanian exploration project through 1999.
Insiders of Rex participated in the placements for a total of 1,000,577
shares. Dr. Luc Rombouts, a consultant retained by Rex, and his affiliates,
subscribed for an aggregate of 130,000 common shares in the first private
placement at CAN 0.90 per share. CEO Serge Muller has subscribed for 730,577
shares in the second private placement at 1.25 CAD per share. In addition Mr.
Muller has increased his equity position in Rex with purchases from European
investors totaling 2,769,423 shares. His current position in the company of
15,500,000 shares represents 30.1 percent of the issued equity.
-30-
For further information: Ben Holemans, CFO, Rex Diamond Mining
Corporation, Tel: +32 3 205-9060, Fax: +32 3 205-9070, Website:
www.rexmining.com, E-mail: info@rexmining.com
CEO Serge Muller Increases his stake in REX
Symbol: RXD
TORONTO, Jan. 21 /CNW/ - Mr. Serge Muller, the President and Chief
Executive Officer of Rex Diamond Mining Corporation (''Rex''), today announced
that he has purchased an aggregate of 2,769,423 common shares of Rex (''Common
Shares'') through private agreements with persons resident in Europe.
As a result of this acquisition, Mr. Muller currently owns, directs or
controls 14,769,423 Common Shares, representing 29.54% of the 50,000,000
Common Shares which are currently issued and outstanding. Mr. Muller has also
subscribed to purchase 730,577 Common Shares offered in Rex's private
placement of 1,500,000 Common Shares at $1.25 CAD. Consequently Mr. Muller
currently owns, directs or controls 15,500,000 Common Shares, representing
30.1% of the 51,500,000 issued and outstanding Common Shares of Rex.
-30-
For further information: Serge Muller, President and CEO, Rex Diamond
Mining Corporation, Tel: +32 3 205-9060, Fax: +32 3 205-9070, Website:
www.rexmining.com, E-mail: info@rexmining.com |
