VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 19, 2016) - Cap-Ex Iron Ore Ltd. (TSX VENTURE:CEV) ("Cap-Ex" or the "Company") announces that it will proceed with a non-brokered private placement (the "Private Placement"), of up to 18,000,000 units of the Company (the "Units") at a price of $0.12 per unit. Each unit will be comprised of one common share and one half of one common share purchase warrant (a "Warrant). Each such Warrant will entitle the holder to purchase one common share of the Company for a period of 2 years from the closing date at a price of $0.20 per common share.
Proceeds from the financing will be used for exploration and general working capital.
The Company also announces that upon receiving regulatory approval it intends to change its name to ML Gold Corp.
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