Business
PPX Mining Announces C$850,000 Private Placement of Shares
VANCOUVER, BC / ACCESSWIRE / March 17, 2020 / PPX Mining Corp. (TSXV:PPX) (the "Company" or "PPX") is pleased to announce a non-brokered private placement offer
About this update from Ppx Mining Corp.
[{"type":"text","content":" VANCOUVER, BC / ACCESSWIRE / March 17, 2020 / PPX Mining Corp. (TSXV:PPX) (the \"Company\" or \"PPX\") is pleased to announce a non-brokered private placement offering of up to 14,166,667 common shares of the Company at a price of CDN$0.06 per share to raise gross proceeds of up to CDN$850,000 (the \"Private Placement\"). Under the Private Placement, the Company intends to pay 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. Closing of Previous Private Placement The Company also announces that, further to its news release dated February 26, 2020, it has closed its previously announced private placement of 6,917,901 shares for aggregate gross proceeds of CDN$415,074.06 and does not intend to complete an additional tranche under such offering. For further information regarding the Company's previous offering, please refer to the Company's news release dated February 26, 2020. Management Cease Trade Order The Company also announces that, further to its news release dated January 30, 2020, the management cease trade order (the \"MCTO\") imposed by the British Columbia Securities Commission on January 29, 2020 remains effective. The Company confirms that there have been no material changes to the information contained in the initial announcement of the MCTO. 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 unl...