Business
Platinex Announces Closing of Private Placement
TORONTO, May 04, 2022 (GLOBE NEWSWIRE) -- Platinex Inc. (CSE: PTX) (Frankfurt: 9PX) (“Platinex” or the “Company”) is pleased to announce that the Company has cl
About this update from Ptx Metals Inc
[{"type":"text","content":" TORONTO, May 04, 2022 (GLOBE NEWSWIRE) -- Platinex Inc. (CSE: PTX) (Frankfurt: 9PX) (“Platinex” or the “Company”) is pleased to announce that the Company has closed the second and final tranche of the non-brokered private placement previously announced on April 5th, 2022, for gross proceeds of $1.93 Million (the “Offering”). The final tranche consists of 3,294,000 units (the \"Units\") at a price of C$0.05 per Unit and 3,800,000 flow through units (“FT Unit”) at a price of C$0.06 per Unit. Each Unit and FT Unit consists of one common share (“Common Share”) and one-half of a common share purchase warrant. Each full warrant (\"Warrant\") is exercisable into a Common Share at an exercise price of $0.07 for a period of 36 months from the closing of the Offering. The Company will use the proceeds of the Offering to incur Canadian Exploration Expenses on its exploration properties in Ontario including W2 Copper-Nickel-PGE Project in the Ring of Fire and the Shining Tree Gold Project in the Abitibi and for general corporate purposes. Greg Ferron, president, and chief executive officer, stated, \"We are thrilled to see most of the financing taken by new shareholders, and we appreciate the ongoing support from existing shareholders that participated.\" The Company will provide an update shortly on its initial exploration plans at both of its 100% owned district scale projects including the W2 Copper-Nickel-PGE Project in the Ring of Fire, Ontario and the Shining Tree Gold Project in the Abitibi region of Ontario. The Company paid in certain cases a cash commission equal to 7% of the proceeds from purchasers introduced to the Company by the finder and a finder’s warrant equal to 7% of the securities sold to purchasers introduced to the Company by the finder. The Finder’s Warrant shall be exercisable into a Unit at C$0.05 per Unit. In addition, the Company announced today that it has arranged a shares for debt transaction to settle an aggregate of $116,500 by the issuance of 2,330,000 shares to arm’s length service providers of the Company. All securities issued in connection with this Offering are subject to a four month plus one day hold period from the Closing date in accordance with applicable securities laws. Additional information is available on the Company’s website (https://www.platinex.com). About Platinex Inc.: Platinex c...