News Releases From NEX Companies For October 23rd

There was one news release from a NEX company that was picked up by Marketwire on Tuesday. Raystar Capital Ltd. [NEX: RYA.H] has announced a non-brokered private placement for $500,000 in gross proceeds, in the form of 2.5 million units. Each unit will contain one common share and one purchase warrant, with exercise price of 30 cents/share and life of one year, and will have a deemed price of 25 cents/unit. According to the news release, "[p]roceeds from the private placement will be used for general working capital." RYA.H last closed on October 16th, at 22.5 cents/share as adjusted for its recent 1:3 consolidation.

One bulletin from a NEX company was at the bottom of Tuesday's TSX Venture Daily Bulletins, which concerns Infinite Resources Inc. [NEX: INF.H]. Infinite has caught up on its filings, resulting in the rescinding of the B.C. Securities Commission's cease-trade order against the company. So, the Venture has lifted the suspension of the company's shares, and INF.H will start trading as of market's open on Wednesday. Canjex Publishing has a webbed copy of this bulletin. INF.H last traded on August 18th, when it closed at 18 cents/share.

Two news releases from NEX companies were sent out exclusively through Canjex on Tuesday. The first came from Millstreet Industries Inc. [NEX: MLI.H]; it announces that a previously-announced private placement of 6.2 million shares at 6 cents/share for gross proceeds of $372,000 has been completed. According to the announcement of its completion, the placement has been approved by all bodies required for it to go through. MLI.H last traded on Monday, when it closed at 10 cents/share.

The second release comes from SBI Skin Biology Inc. [NEX: SBI.H]. It announces the granting of conditional approval to the reverse takeover of/by Dynasty Metals & Mining Inc. SBI has purchased Dynasty's Copper Duke claims for 51 million of its common shares, which will give control of approximately 60% of SBI's shares to the latter company. The deemed price of the RTO was 60 cents/share. The exchange's approval is "subject to the company fulfilling all of the requirements of the exchange, including obtaining shareholder approval of the acquisition." The news release announcing it also mentions that SBI has some private placements in the works, for total gross proceeds of $6 million, which are expected to close "concurrently with the closing of the acquisition." Evidently, this RTO is going to serve as a Qualifying Transaction for a move of SBI to Tier 2 of the Venture Exchange as a mining/exploration company, with a name change in the works also.

To read about the highlighted NEX stocks for Tuesday, you can go here.