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LETHBRIDGE, ALBERTA--(Marketwired - May 6, 2014) - Robix Alternative Fuels Inc. ("Robix" or the "Corporation") (CSE:RZX) announced today that it has increased the size of and closed its previously announced non-brokered private placement of units. Robix issued 1,775,429 units at a price of $0.33 per unit, for gross proceeds of $585,892. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder thereof to acquire one additional common share at a price of $0.45 per share for a period of two years after the closing. If, at any time, the closing price of the common shares on the Canadian Securities Exchange is at least $0.54 for a minimum of 10 consecutive trading days (whether or not trading occurs on all such days), the Corporation may, at its option, accelerate the expiry date of the warrants by giving written notice thereof to all holders of warrants, and, in such case, the warrants will expire on the date which is the earlier of: (i) the 30th day after the date on which such written notice is given by the Corporation; and (ii) the original expiry date. |
