brokered private placement

Platinex Increases Flow Through Private Placement Financing

Platinex Inc. (CSE: PTX) (the " Company " or " Platinex ") announces that due to strong demand the non-brokered flow through private placement announced yesterday will be increased up to $750,000.

The non-brokered private placement (the " Private Placement ") shall consist of up to 10,000,000 units (" Units ") at $0.075/Unit to raise up to $750,000. Each Unit will consist of one flow-through common share (" FT Share ") of the Company and one half of one Common Share purchase warrant. Each full warrant (" Warrant ") is exercisable into a Common Share at an exercise price of $0.10 for a period of 24 months following the closing of the Private Placement.

The closing date of the Private Placement is anticipated to occur on or about December 29, 2020 or such other date determined by the Company. No further increases to the flow through private placement are intended.

The Company will use the proceeds to incur Canadian Exploration Expenses in Ontario on its Shining Tree property.

The Company may pay a cash commission equal to 6% of the proceeds from purchasers introduced to the Corporation by the Finder and a Finder's Warrant equal to 6% of the securities sold to purchasers introduced to the Corporation by the finder. The Finder's Warrant shall be exercisable into Common Shares at an exercise price of $0.075 for a period of 18 months following the closing of the Private Placement.

All securities issued in connection with this Private Placement will be subject to a four month plus one day hold period from the date of issuance in accordance with applicable securities laws.

About Platinex Inc. – Advancing a District Scale Project in an Abitibi Gold Camp
Platinex is focusing its efforts on the exploration of its property in the Shining Tree District. Platinex has created the largest gold focused property package in the Shining Tree District, Northern Ontario , which has received little modern exploration compared to other gold camps in the Abitibi Greenstone Belt. The Company is also utilizing its proprietary data to seek financial backing to secure and advance major Platinum Group Element properties in North America. Shares of Platinex are listed for trading on the Canadian Securities Exchange under the symbol "PTX". To receive Company press releases, please email lparadis@platinex.com a nd mention "Platinex press release" on the subject line.

FORWARD-LOOKING STATEMENTS :

This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such statements include use proprietary data to seek financial backing to advance its platinum group properties, submission of the relevant documentation within the required timeframe and to the satisfaction of the relevant regulators, completing the acquisition of applicable assets and raising sufficient financing to complete the Company's business strategy. There is no certainty that any of these events will occur. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances, except as required by applicable securities laws.

Investing into early stage companies, inherently carries a high degree of risk and investment into securities of the Company shall be considered highly speculative.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any province in which such offer, solicitation or sale would be unlawful. The securities issued, or to be issued, under the Private Placement have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

The Canadian Securities Exchange has not passed upon the merits of the Private Placement and has not approved nor disapproved the contents of this press release.

Lori Paradis, Assistant Secretary
Tel: (416) 268-2682
Email: lparadis@platinex.com
Web: www.platinex.com


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

The Conversation (0)
Peruvian Metals Provides Corporate Update on Production, New Tailings Results and the Process to Re-Instate the OTCQB Listing

Peruvian Metals Provides Corporate Update on Production, New Tailings Results and the Process to Re-Instate the OTCQB Listing

Peruvian Metals Corp (TSXV: PER,OTC:DUVNF) (OTC Pink: DUVNF) ("Peruvian Metals" or the "Company") is pleased to provide a corporate update regarding 2026 production at the 80% owned Aguila Norte Processing Plant ("Plant"), new sample results from the tailings area and the reinstatement on the... Keep Reading...
Gold nuggets with text: "5 Top Australian Mining Stocks This Week."

Top 5 Australian Mining Stocks This Week: BPM Minerals Gains 111 Percent

Welcome to the Investing News Network's weekly round-up of the top-performing mining stocks on the ASX.This week's top five gainers includes companies focused on gold, antimony, lithium and more.Read on to discover this week's top gaining Australian mining stocks on the ASX and what drove their... Keep Reading...
Peter Schiff, gold bar.

Peter Schiff: Gold, Silver, Energy, Value Stocks — 2027 Opportunities

Peter Schiff, chief economist and global strategist at Euro Pacific Asset Management and founder of Schiff Gold, sees lower gold and silver prices as a buying opportunity.He believes part of the reason for their decline is that markets are overestimating the strength of the American economy, as... Keep Reading...
Chris Temple, gold bars.

Chris Temple: Gold Price Rout Not Over, Watch for This Green Light

Chris Temple, founder, editor and publisher of the National Investor, lays out what's weighing on the gold price right now and what would prompt a turnaround.In his view, the light will turn green for metals once the US Federal Reserve stops talking about fighting inflation, with gold's rebound... Keep Reading...
Omar ayales, gold bars.

Omar Ayales: 2 Gold Price Scenarios, Plus What I'm Buying Now

Is the gold price setting up for a 2012 scenario, or can it stage a rebound? Omar Ayales of Gold Charts R Us laid out two potential scenarios — one where gold sinks to US$3,000 per ounce, and one where it gets back to US$4,700. Don't forget to follow us @INN_Resource for real-time... Keep Reading...
Shiny gold bar rests on financial chart with fluctuating orange and blue lines.

Stored, Safe and Spendable: How Technology is Changing Gold Ownership

Gold has long been treated as a store of value, often leading to selling the metal to generate cash from it. Digital ownership and payment technology are reshaping that idea.Demand data from the World Gold Council (WGC) shows that investors continue to accumulate gold as a long-term holding.... Keep Reading...

Interactive Chart

Latest Press Releases

Related News