Venturex Explorations Closes Second Tranche of $2.5 Million Private Placement
June 5, 2007
West Vancouver, British Columbia – Venturex Explorations Inc. (the “Company”) is pleased to announce that, further to its news releases dated April 19 and May 23, 2007, it has closed the second and final tranche of its non brokered private placement. In the first tranche, the Company raised $340,000 through the issuance of 1,999,999 flow through units (the “FT Units”) at $0.17 each to the MineralFields Group. In the second tranche, the Company has raised an additional $2,148,650 through the issuance of 6,520,000 FT Units at $0.17 each and 6,935,000 non-flow through units (the “Non FT Units”) at $0.15 each. Each FT Unit consists of one flow through common share and one-half of a share purchase warrant, with each whole warrant entitling the holder to purchase an additional non flow through common share at a price of $0.20 for a period of one year from the closing date. Each Non FT Unit consists of one common share and one warrant, with each warrant entitling the holder to purchase an additional common share at a price of $0.20 for a period of one year from the closing date. In connection with the second tranche of the private placement, the Company has paid finders’ fees consisting of 17,500 Non FT Units (at a deemed price equal to $0.15 per unit), $112,889 cash and 1,036,000 finders’ warrants. Each finder’s warrant entitles the holder to purchase one additional common share for a period of one year at an exercise price of $0.20. All of the securities issued pursuant to the second tranche of the private placement are subject to a hold period expiring October 5, 2007.
The proceeds from this private placement will be used for exploration and development of the Company’s properties and working capital purposes.
For further information, contact Mr. Clive Shallow, investor communication, at 604-922-2030 or visit the Company’s website at www.venturexexplorations.com.
Venturex Explorations Inc.
“Douglas L. Mason”
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Douglas L. Mason, Chairman
The TSX Venture Exchange has not reviewed this news release and does not accept responsibility for the adequacy or accuracy of this release.
