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PPX Mining Announces Closing of Oversubscribed Private Placement
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES TORONTO, ON / ...
About this update from Ppx Mining Corp.
[{"type":"text","content":"PPX Mining Announces Closing of Oversubscribed Private PlacementNOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES TORONTO, ON / ACCESS Newswire / May 5, 2025 / PPX Mining Corp. (TSX.V:PPX)(BVL:PPX) (\"PPX\" or the \"Company\") is pleased to announce that it has closed its non-brokered private placement previously announced on March 20, 2025 on an oversubscribed basis for aggregate gross proceeds of $802,303 (the \"Offering\").The Offering involved the issue of 17,828,945 units (the \"Units\") at a price of $0.045 per Unit for gross proceeds to the Company of $802,303. Each Unit consisted of one common share of the Company and one common share purchase warrant, with each warrant entitling the holder to acquire one common share of the Company at an exercise price of $0.07 until May 5, 2027. The Company intends to use the proceeds from the Offering to finance further exploration at Mina Callanquitas and for working capital.In connection with the Offering, the Company issued an aggregate of 572,096 units (the \"Finder's Units\") to arm's length finders of the Company in consideration for the finders locating purchasers to participate in the Offering. Each Finder's Unit consisted of one common share of the Company and one non-transferable common share purchase warrant, with each warrant entitling the holder to acquire one common share of the Company at an exercise price of $0.07 until May 5, 2027. No cash payments were paid to the finders.The securities issued under the Offering are subject to a four-month hold period expiring on September 6, 2025 under applicable Canadian securities laws and the policies of the TSX Venture Exchange (the \"TSXV\"). The Offering is subject to the final approval of the TSXV.Brian Imrie, Executive Chairman and director of the Company, JAT Metconsult Ltd., a company controlled by John Thomas the Interim Chief Executive Officer and director of the Company, and Real Green Corp., a company controlled by Pompeyo Gallardo the Chief Financial Officer and Corporate Secretary of the Company, participated in the Offering by subscribing for 555,556 Units, 2,222,222 Units and 2,222,222 Units, respectively, which constituted a related party transaction pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). There has not...