Philex Mining Corporation: Stock Rights – Preliminary Terms and Conditions
· Issued by Philex Mining Corp.
NOTICE
Subject
Philex Mining Corporation: Stock Rights - Preliminary Terms and Conditions
Company Name
Philex Mining Corporation
Security Details
Type of Security
Stock Symbol
Par Value
Common Shares
PX
Php 1.00
Type of Transaction
Stock Rights Offering
Rights Shares
Stock Symbol
No. of Shares
Rights Offer Price
PX
Up to 842,000,000
Php 3.15 to Php 4.81
Rights Entitlement Ratio
To be determined
Pricing Date (if applicable)
Jun 23, 2022
Ex-Date
Jun 24, 2022
Record Date
Jun 29, 2022
Start of Rights' Offer Period
Jul 14, 2022
End of Rights' Offer Period
Jul 25, 2022
Payment Terms
Full Payment
Lead Underwriter(s)
BDO Capital & Investment Corporation
Other Parties to the Rights Offer
Function
Name of the Party
Legal Advisor to the Company
Migallos & Luna Law
Legal Advisor to the Issue Manager and Underwriter
Romulo Mabanta Buenaventura Sayoc & de los Angeles
Stock Transfer Agent
Stock Transfer Service, Inc.
Receiving Agent
Stock Transfer Service, Inc.
External Auditor
SyCip Gorres Velayo & Co.
Corporate Website Hyperlink to the Prospectus
TBD
Tentative Listing Date
Aug 3, 2022
Other Relevant Information
The Board of Directors of Philex Mining Corporation ("PX" or the "Company") approved the conduct of a Stock Rights Offering ("SRO") of common shares to be issued from the Company's unissued authorized capital stock.
The Company intends to use the proceeds from the Stock Rights Offer for investment in Silangan Mindanao Mining Co., Inc. through Silangan Mindanao Exploration Co., Inc. for the capital expenditures and development cost of the Silangan Project.
Please refer to the relevant disclosures of the Company on the following dates:
1. C07343-2021 dated November 4, 2021;
2. C00583-2022 dated February 2, 2022; and
3. C04603-2022 dated June 22, 2022.
The Exchange approved the application of the Company for the listing of up to 842,000,000 common shares ("Right Shares"), with a par value of Php1.00 per share, to cover its SRO to all stockholders as of the proposed record date, at an Offer Price of Php 3.15 to Php 4.81 per Offer Share. The Exchange's approval of the listing of the Right Shares is subject to the Company's compliance with all applicable requirements and post-approval conditions of the Exchange.
The Exchange will accordingly announce any developments on the Company's listing application.
