PTX Metals Inc C.PTX

Alternate Symbol(s): PANXF

Metals & Mining Industrial Metals & Minerals

PTX Metals Inc. is a Canada-based mineral exploration company focused on critical mineral projects, including two flagship projects situated in northern Ontario. The Company’s assets include a 100% ownership interest in the W2 Copper-Nickel-PGE Project near the Ring of Fire; a 75% interest in the South Timmins Mining joint venture with Fancamp Exploration, which includes the 232 square kilometers Shining Tree Gold Project and the Heenan Mallard Gold Project, both of which lie along the Ridout-Tyrell Deformation Zone on strike with IAMGOLD’s Cote Gold deposits. It also has an option to earn a 100% ownership interest in the Muskrat Dam Critical Minerals Project with a primary focus on Lithium located in Northwestern Ontario. In addition, it holds a portfolio of net smelter return (NSR) royalties on gold, PGE, and base metal properties in Ontario. The Company also has claims staking a large mineral rights position in the Thelon Basin Nunavut, Canada and the Nunavut Uranium Claims.

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PTX Metals Inc

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Post by mrsgoldmineron Dec 17, 2020 8:43am

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Post# 32126527

Platinex Announces Flow Through Private Placement Financing

2020-12-17 08:23 ET - News Release

TORONTO, Dec. 17, 2020 (GLOBE NEWSWIRE) -- Platinex Inc. (CSE: PTX) (the "Company" or "Platinex") wishes to announce a non-brokered flow through private placement of up to $500,000.

The non-brokered private placement (the "Private Placement") shall consist of up to 6,666,666 units ("Units") at $0.075/Unit to raise up to $500,000. 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.

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.

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

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 and mention “Platinex press release” on the subject line.

FORWARD-LOOKING STATEMENTS:

Thisnewsreleasemaycontainforward-lookingstatementsandinformationbasedoncurrentexpectations. 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 statementsincludeuseproprietarydatatoseekfinancialbackingtoadvanceitsplatinumgroupproperties, 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. Althoughsuchstatementsarebasedonmanagement'sreasonableassumptions,therecanbenoassurance 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 securitieslaws.

Investingintoearlystagecompanies,inherentlycarriesahighdegreeofriskandinvestmentintosecurities of the Company shall be considered highlyspeculative.

Thispressreleaseshallnotconstituteanoffertosellorthesolicitationofanoffertobuynorshalltherebe 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 registrationrequirements.