The on-again, off-again, private placement between Total Energold (TSE) and Plexus Resources (TSE) is back on track. The deal, identical to the one cancelled in early April, will see Total buying a private placement of six million Plexus common shares valued at $3 each.
The price is made up of $2.75 per share in cash and the balance covered by the transfer to Plexus of Total’s wholly owned exploration subsidiary, Sovereign Explorations.
Total will also receive 5-year warrants to acquire 2.15 million additional Plexus shares at $3 per share.
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