Business
Apex Resources Inc. Announces Closing of Kena Property Sale
(TheNewswire) Vancouver, BC. - TheNewswire - May 5 , 2021 - A...
About this update from Apex Resources Inc.
[{"type":"text","content":"Apex Resources Inc. Announces Closing of Kena Property Sale\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Vancouver, BC. -\n \n \n TheNewswire -\nMay 5\n \n \n \n \n , 2021 -\n \n \n Apex Resources Inc. (“\n \n \n Apex\n \n \n ”, or the\n“\n \n \n Company\n \n \n ”) (TSXV:APX) is pleased to announce that it has closed its\npreviously announced transaction (the “\n \n \n Transaction\n \n \n ”) with\nWest Mining Corp. (“\n \n \n West\n \n \n ”) for West to acquire the Company’s\nremaining 20% interest in the Kena and Daylight Gold-Copper Properties\n(the “\n \n \n Project\n \n \n ”) in British Columbia in exchange for: aggregate cash\npayments of $300,000; an aggregate of 1,500,000 common shares of West\n(each, a “\n \n \n Share\n \n \n ”); and West granting the Company a 1.0% net smelter\nreturns royalty on the Project, with West having the right to purchase\nthe NSR for $500,000 at any time prior to the commencement of\ncommercial production on the Project.\n \n \n \n \n The Company was issued a Cease Trade Order (the\n“\n \n \n Cease Trade\nOrder\n \n \n ”) by the British Columbia Securities\nCommission (the “\n \n \n Commission\n \n \n ”) on November 19, 2020 related to\nthe Commission’s technical disclosure review previously announced in\nthe Company’s press release dated December 13, 2019. The Company is\nstill reviewing all options to correct this situation as quickly as\npossible. The Company confirms that the Transaction will not violate\nthe terms of the Cease Trade Order, and that once the Company files\nthe required disclosure with the Commission, the Company will seek to\nhave the Cease Trade Order revoked. The Company will provide updates\nas and when warranted.\n \n \n \n \n For further details regarding the transaction, please\nrefer to the Company’s press release dated April 12, 2021. For\nfurther details regarding the Cease Trade Order, please refer to the\nCompany’s press release dated November 23, 2020. The Company’s\npress releases are posted on the Company’s website\n \n \n \n \n www.apxresources.com\n \n \n \n \n .\n \n \n \n \n About Apex Resources Inc.\n \n \n \n \n Apex is a Canadian mining exploration and development\ncompany focused on British...