Platinex announces closure of first private placement tranche, Canadian Business Journal

Toronto, April 5, 2022 (GLOBE NEWSWIRE) — Platinex Inc. (CSE: PTX) (Frankfurt: 9PX) (“Platinex” or “Company”) We are pleased to announce that we have closed an unmediated private placement for a total income of $ 1,536,300 (“offers”). We have issued 16,060,000 units (“Units”) at a price of $ 0.05 CAD per unit. In addition, we have issued 12,221,667 flow-through units (“FT units”) at a price of C $ 0.06 per unit.

Each unit and FT unit consists of one common stock (“common stock”) and half of the common stock purchase warrant. Each complete warrant (“warrant”) can be exercised into common stock at an exercise price of $ 0.07 for 36 months from the end of the offering.

We will use the proceeds of the offering to cover Canada’s exploration costs at our Ontario exploration facility. This includes the Ring of Fire W2 Copper-Nickel-PGE project and Abitibi’s Shining Tree Gold project.

We will soon finish the final tranche of the offering.

In some cases, we may have a cash fee equivalent to 7% of the revenue from the purchaser introduced to us by Finder and a warrant of Finder equivalent to 7% of the securities sold to the purchaser introduced by Finder to us. I paid. The finder warrant must be exerciseable on the unit.

All securities issued in connection with this offering are subject to a holding period of 4 months plus 1 day from the closing date in accordance with applicable securities law.

Additional information is available on our website (

About Platinex Inc .: Platinex creates shareholder value by opportunistically acquiring and promoting quality projects in Ontario’s abundant mining camps. Current assets include 100% ownership of the district-wide W2 Copper-Nickel-PGE project and 100% ownership of 225 km.2 Shining Tree Gold Project in the Abitibi region of Ontario, a world-famous gold district. The W2 project manages one of the major complexes of the Oxford Star Dome. The Shining Tree Project, heading west from the Bowden Mine in Newmont, passes through the area of ​​the IAM GOLD Coat Gold Deposit and covers most of the Redout-Tyrell Deformation Zone that spans the entire Jubby Project in Alice Gold. We are also developing a loyalty portfolio of net smelter income (NSR) and currently hold royalties on Ontario’s gold, PGE, and base metal assets.

For more information, please contact CEO Greg Ferron (416-270-5042) or email (

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Future-oriented statement:
This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as a guarantee of future performance or results. Such statements include known and unknown risks, uncertainties, and other sources that may cause actual results, performance, or outcomes to differ materially from those implied by such statements. Factors are included. Such statements include the use of proprietary data to seek financial assistance to advance the Platinum Group’s assets, the submission of relevant documentation for the satisfaction of relevant regulatory agencies within the required time frame, and the applicable. A strategy that includes the completion of the acquisition of assets and sufficient financing to complete the company’s business. There is no certainty that any of these events will occur. Such statements are based on management’s reasonable assumptions, but there is no guarantee that such assumptions will prove correct. We are not responsible for updating or revising new events or circumstances to reflect new events or circumstances, except as required by applicable securities law.

This press release does not constitute an offer to sell or solicit a purchase, nor will securities be sold in states where such offer, solicitation or sale is illegal. Securities issued or will be issued under a private placement have not been and will not be registered as amended under the Securities Act of 1933. Applicable exemptions from registration requirements.

The Canadian Stock Exchange has not endorsed or denied the content of this press release.

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Platinex announces closure of first private placement tranche, Canadian Business Journal

Source link Platinex announces closure of first private placement tranche, Canadian Business Journal

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