AURORA, ON, Feb. 21 /CNW/ - Platinex Inc. - (TSX Venture: PTX) announced today that it has reached an agreement, subject to regulatory approval, with a director and another non-arm's length supplier of services to settle debt totaling $62,720 by the issuance of 313,600 common shares at a deemed value of $0.20 per share. Platinex is completing its filing application for approval of this transaction with the TSX Venture Exchange. The common shares issued will be subject to a four-month hold period once issued.
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 became listed for trading on the TSX Venture Exchange on November 4, 2005, under the symbol PTX.
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