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Platinex Completes Final Closing of Private Placement
Platinex Completes Final Closing of Private Placement.
About this update from Ptx Metals Inc
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\n\n\nDISSEMINATION IN THE UNITED STATES/\n\n\nAURORA, ON, Oct. 9 /CNW/ - Platinex Inc. (TSX Venture: PTX), today\nreported that it has concluded the fourth and final tranche of the previously\nannounced private placement financing to raise $542,700 of gross proceeds\ncomprised of 1,119,000 non-flow-through units (the "NFT Units") and 591,428\nflow-through common shares.\n\n\nFlow-through common shares were sold at $0.35 per share. The NFT Units\nwere sold at $0.30 per unit. Each NFT Unit consists of one non-flow-through\ncommon share and one warrant. Each warrant grants the right to purchase one\nnon-flow-through common share at $0.35 per share on or before August 8, 2009.\n\n\nProceeds of the private placement will be used to pay for exploration and\nfor working capital purposes. Platinex has now raised $3,383,500 since August\n1, 2007.\n\n\nThe Company paid a cash commission to finders and issued warrants\ngranting finders the right to purchase 19,000 NFT Units for $0.30 per unit and\nthe right to purchase 47,314 common shares for $0.35 per share, each\nexercisable on or before August 8, 2009.\n\n\nThe securities issued in connection with this closing are subject to a\nfour-month hold period expiring February 6, 2008.\n\n\nAccounting for this private placement, there are 25,841,548 issued and\noutstanding common shares of Platinex Inc.\n\n\nThis news release shall not constitute an offer to sell or the\nsolicitation of an offer to buy any securities in any jurisdiction. The\nsecurities will not be registered under the United States Securities Act of\n1933, as amended (the "1933 Act"), or the securities laws of any state of the\nUnited States, and may not be offered or sold in the United States absent\nregistration or an applicable exemption therefrom under the 1933 Act and the\nsecurities laws of all applicable states.\n\n\nAbout Platinex Inc.\n\n\nPlatinex is a Canadian exploration company based near Toronto. Platinex\nfocuses on carefully selected Platinum Group Element targets in settings\nanalogous to the JM reef (Stillwater Complex, Montana) and the Merensky and\nUG2 reefs (Bushveld Complex, RSA). Platinex is determined to find platinum\nsources to be used in the campaign to eliminate the threat of global warming.\nShares of Platin...