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PPX Announces Application to Partially Revoke Cease Trade Order
VANCOUVER, BC / ACCESSWIRE / June 14, 2021 / PPX Mining Corp. (TSXV:PPX) (the " Company " or...
About this update from Ppx Mining Corp.
[{"type":"text","content":"PPX Announces Application to Partially Revoke Cease Trade OrderVANCOUVER, BC / ACCESSWIRE / June 14, 2021 / PPX Mining Corp. (TSXV:PPX) (the \"Company\" or \"PPX\") is pleased to announce it has applied to partially revoke the cease trade order (the \"CTO\") issued against the Company by the British Columbia Securities Commission (the \"BCSC\") and the Ontario Securities Commission (the \"OSC\") on February 3, 2021. The CTO was issued due to the Company's failure to file certain financial disclosure documents in compliance with National Instrument 51-102 Continuous Disclosure Obligations. Please see the news releases of the Company dated February 4, 2021 and April 21, 2021 for further details regarding the CTO.If the BCSC and the OSC partially revoke the CTO, the Company intends to complete a $438,452.52 tranche of its previously announced non-brokered private placement for aggregate gross proceeds of up to $510,112.56 (the \"Private Placement\"), through the issuance of 7,307,542 common shares in the share capital of the Company (each, a \"Common Share\" and collectively, the \"Common Shares\"), at a price of $0.06 per Common Share. In connection with this closing, the Company will pay a cash finder's fee of $26,307.16 and 146,151 Common Shares to arm's length finders. All Common Shares issued pursuant to the Private Placement will be subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation. The Private Placement has been conditionally approved by the TSX Venture Exchange. Please see the news releases of the Company dated November 20, 2020, January 4, 2021 and January 29, 2021 for further details regarding the Private Placement.On behalf of the Board of DirectorsBrian J. MaherPresident and Chief Executive OfficerFOR FURTHER INFORMATION, PLEASE CONTACT:PPX Mining Corp.Brian J. Maher, President and Chief Executive OfficerPhone: 1-530-913-4728Email: [email protected]: www.ppxmining.comNeither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Cautionary Statement Regarding Forward-Looking InformationThis press release may contain forward-looking statements including, but not limited to...