NGEx Resources Inc. (TSX:NGQ) announced a brokered and a non-brokered private placement of 20,000,000 common shares at a price of CAD 1 per share for gross proceeds of CAD 20,000,000 on January 15, 2019. The company will receive the proceeds of CAD 10,000,000 under the brokered private placement on reasonable best-effort basis and another CAD 10,000,000 under non-brokered private placement. The company expects to close the transaction on or about January 31, 2019. The transaction is subject to receipt of all necessary regulatory approvals, including the approval of the Toronto Stock Exchange, and certain other customary conditions. The company may pay a finder's fees of 5% on a portion of the non-brokered private placement. The securities issued are subject to a hold period of four months plus one day. On January 21, 2019, the company announced that it will pursue the transaction on a non-brokered basis. The company will issue 20,000,000 shares for gross proceeds of CAD 20,000,000 in the transaction. The company has terminated the "reasonable best efforts” agreement with National Bank Financial, Inc. and Cormark Securities Inc. The company will pay 5% finder's fee in the transaction.