VANCOUVER, BC / ACCESSWIRE / November 20, 2020 / PPX Mining Corp. (TSXV:PPX) (the "Company" or "PPX") is pleased to announce a non-brokered private placement offering of up to 8,501,875 common shares (the "Shares") of the Company at a purchase price of CDN$0.06 per share to raise gross proceeds of up to CDN$510,112.50 (the "Private Placement"). Subject to TSX Venture Exchange (the "Exchange") acceptance, the Company may pay a finder's fee of 8% in cash or Shares to certain arm's length finders, at the discretion of the finders. The Company intends to use the proceeds from the Private Placement for general working capital purposes.
The Private Placement is subject to all necessary regulatory approvals including acceptance from the Exchange. All securities issued in connection with the Private Placement will be subject to a four month hold period from the closing date under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.
The Private Placement is in lieu of the private placement announced on March 17, 2020, which will not be completed.
On behalf of the Board of Directors
Brian J. Maher
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
Certain disclosure in this release, including statements regarding the Company's intention to carry out the Private Placement and the use of proceeds from the Private Placement constitute "forward-looking information" within the meaning of Canadian securities legislation. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that the Company believes are reasonable, including that the Company is able to obtain regulatory approval of the Private Placement, the Company will be able to use the proceeds of the Private Placement as anticipated and that the Company is otherwise able to complete the Private Placement. However, the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such uncertainties and risks include, among others, financing risks, delays in obtaining or inability to obtain required regulatory approvals, inability to use the proceeds from the Private Placement as anticipated and inability to complete the Private Placement.
There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
SOURCE: PPX Mining Corp.