TORONTO, Jan. 09, 2018 (GLOBE NEWSWIRE) -- Platinex Inc. (CSE:PTX) (the
"Company" or "Platinex") announces the appointment of 1407535 Ontario Limited, a company wholly
owned by David Posner, to provide Investor Relations Services on behalf of Platinex and various compensation warrant transactions.
Platinex has agreed to pay 1407535 Ontario Limited a fee of $5,000 per month, for an initial period of six (6)
months which may be extended at the mutual agreement of the parties for a further six (6) month period thereafter. The Agreement
may be terminated upon 30 days' notice in writing at any time. David Posner is arm’s length to the Company.
Mr. David Posner currently serves as the Chairman of the board of directors of Nutritional High International
Inc. (CSE:EAT), a director of The Lineage Grow Company Ltd. (Listing pending), Capricorn Business Acquisitions Inc. (NEX:CAK)
and a director of Aura Health Corp. (a private company involved in the development and acquisition of marijuana health clinics in
the US). Between 2012 and 2014, Mr. Posner served as the Acquisitions Manager for Stonegate Properties Inc., where he managed real
estate properties and brokered deals in Canada and Oklahoma. He was a Managing Director of Sales and Acquisitions for Maria
Chiquita Development Company from 2005 to 2012. From 2004 to 2007 he was a partner in a private investment group involved in the
acquisition, re-zoning and re-positioning for sale of land holdings in Costa Rica and Panama. Mr. Posner holds a Bachelor of Arts
degree from York University.
The Company announces that is has issued 750,000 compensation warrants with an exercise price of $0.24 per
warrant and an expiration date five years from date of issue (“Warrants”). The Warrants were issued to arm’s
length parties for services rendered to the Company.
About Platinex Inc.
Platinex is currently focusing efforts on developing various strategies to capitalize on the lucrative growth of the cannabis
sector in North America. At the same time Platinex has been focusing its mining business efforts in assembling a very large
property in the Shining Tree gold camp, which has received little modern exploration compared to other gold camps in the Abitibi
greenstone Belt. 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:
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 submission of the relevant documentation within the required timeframe and to the satisfaction
of the relevant regulators, completing the acquisition of the 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.
Investing into early stage companies, inherently carries a high degree of risk and investment into
securities of the Company shall be considered highly speculative. Furthermore, the Company seeks to enter the cannabis market in
the United States, where some states have legalized cannabis for medical or adult recreational use, while cannabis remain illegal
under United States Federal law. As such, the Company may become subject to additional government regulation and legal
uncertainties that could restrict the demand for its services or increase its cost of doing business, thereby adversely affecting
its financial results.
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.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
