TORONTO, May 14 /CNW/ - Platinex Inc. (TSX Venture: PTX) today reported that the Company has closed a private placement for gross proceeds of $35,000. The placement comprised ordinary common shares at $0.40 per share. The common shares are subject to a four-month hold period expiring September 12, 2007.
Accounting for the private placement, there are 15,297,763 issued and outstanding common shares of Platinex Inc.
James R. Trusler, President and CEO of Platinex Inc., stated, "I am pleased that Platinex has received this financial support."
About Platinex Inc.
Platinex is a Canadian exploration company based near Toronto. Platinex focuses on carefully selected Platinum Group Element targets in settings analogous to the JM reef (Stillwater Complex, Montana) and the Merensky and UG2 reefs (Bushveld Complex, RSA). Platinex is determined to find platinum sources to be used in the campaign to eliminate the threat of global warming. Shares of Platinex are listed for trading on the TSX Venture Exchange under the symbol PTX.
FORWARD-LOOKING STATEMENTS:
Except for statements of historical fact, all statements in this news release - including, without limitation, statements regarding future plans and objectives, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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