A private placement agreement worth about $18 million between prospective companies, Total Energold (TSE) and Plexus Resources (TSE), has been cancelled. The agreement had called for Total to subscribe for six million common shares of Plexus at $3 per share. Payment included $2.75 per share in cash, plus the transfer of Total’s exploration subsidiary to Plexus at a deemed value of $0.25 per share.
Total Energold said it would continue to consider an investment in Plexus.
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