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NGEx Resources to raise C$10M for ongoing work in Chile, Argentina

NGEx Resources Inc. said Dec. 14 that it plans to raise up to C$10 million through a nonbrokered private placement of 10 million common shares at C$1.00 each.

The proceeds are earmarked for the company's ongoing work programs in Chile and Argentina and for general working capital. Certain company insiders are expected to participate in the offering, which remains subject to regulatory approvals.