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PPX Announces Private Placement of Shares and Grant of Management Cease Trade Order
VANCOUVER, BC / ACCESSWIRE / January 31, 2020 / PPX Mining Corp. (TSXV:PPX) (the " Company...
About this update from Ppx Mining Corp.
[{"type":"text","content":"PPX Announces Private Placement of Shares and Grant of Management Cease Trade OrderVANCOUVER, BC / ACCESSWIRE / January 31, 2020 / PPX Mining Corp. (TSXV:PPX) (the \"Company\" or \"PPX\") is pleased to announce a non-brokered private placement offering of up to 83,333,334 common shares of the Company at a price of CDN$0.06 per share to raise gross proceeds of up to CDN$500,000 (the \"Private Placement\").Under the Private Placement, the Company intends to pay cash finders' fees to eligible finders with a value equivalent to 8% of the aggregate gross proceeds raised from the sale of the shares subscribed for by subscribers introduced to the Company by the finders.The Private Placement is subject to all necessary regulatory approvals including acceptance from the TSX Venture Exchange. All securities issued in connection with the Private Placement will be subject to a four-month hold period from the closing date under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada. The Company intends to use the proceeds from the Private Placement for general working capital purposes.The Company also announces that, further to its news release dated January 24, 2020, the British Columbia Securities Commission (the \"BCSC\") has accepted its application for a management cease trade order (the \"MCTO\") pursuant to National Policy 12-203 - Management Cease Trade Orders. The BCSC issued the MCTO on January 29, 2020.This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\") or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.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...