Philex Mining Corp. said that it is pushing through with its planned P13.8-billion stock rights offering of common shares to its existing stockholders to repay loans and fund its capital expenditures.

In a disclosure to the Philippine Stock Exchange, Philex said that the Securities and Exchange Commission has served notice of the filing of its registration statement, which will pave the way for the rights offering to shareholders of record as of October 16, 2013.

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