Platinex Appoints Two New Directors and Grants Stock Options
TORONTO, ONTARIO -- (Marketwired - May 21, 2014) - Platinex Inc. (TSX VENTURE:PTX) is pleased to announce the appointment of two new directors to its board: Walter Henry and Tom Hussey.Walter Henry, is a Chartered Financial Analyst and President and CEO of Frontline Gold Corp. and Chairman of Alturas Minerals Corp. Mr. Henry has previously held the positions of Vice-President, Finance and Chief Financial Officer of Royal Nickel Corp.; CFO for Juno Special Situations Corp, Alturas Minerals Corp. and Tiberon Minerals Ltd.; Manager at CIBC World Markets; and Assistant Vice President, Mining and Infrastructure, within the Financial Advisory Services Group of PWC Securities Inc. Mr. Henry is a Director of Frontline Gold Corp., Merrex Gold Inc., Alturas Minerals Corp., Consolidated Westview Resource Corp., Satori Resources Inc. and Alexandria Minerals Corp. all TSX Venture listed companies.
Mr. Henry has extensive experience in the areas of International Project Financing, Capital Markets Financing, Commercial Bank Financing, Financial Reporting, Controls and Taxation Matters, Treasury and Financial Risk Management and Public Corporation Investor Relations. Mr. Henry is a member of the Institute of Corporate Directors (ICD) and received the ICD.D designation in May 2010. Mr. Henry is an associate member of IMR/Toronto Society of Financial Analysts and an associate of the Institute of Canadian Bankers.
Tom Hussey, CPA, CA is currently CFO of N-Dimensions Solutions Inc., and CFO and a director of Frontline Gold Corp. He has been a member of the Canadian Institute of Chartered Accountants for over 40 years and is a KPMG LLP alumnus. Over the last 30 years, Mr. Hussey has held senior positions, including CFO, in many companies in the packaging industry and recently retired as Executive VP & CFO of a global equipment manufacturer. Mr. Hussey was also the CFO of Wallbridge Mining Company prior to and after the company's initial public offering.
Mr. Hussey is currently a member of the board of directors and chairman of the audit committee of Miocene Metals Inc., a company listed on the TSX-V. He has also been and is currently a member of the board of directors of many organizations in both private companies and not-for-profit organizations.
Platinex Inc. (TSX VENTURE:PTX) announced that it has granted stock options to purchase 1,600,000 common shares at $0.05 per share. The options will expire on May 21, 2019.
Conditional on TSX-V approval, 1,500,000 options were granted to the following directors and officers of Platinex:
| James Trusler | Director & CEO | 250,000 |
| Bruce Reilly | Director & CFO | 250,000 |
| Joanna Perrin | Director & VP | 250,000 |
| Walter Henry | Director | 250,000 |
| Tom Hussey | Director | 250,000 |
| Lorne Burden | Director | 250,000 |
Pursuant to the grant of these options, a total of 4,180,000 options are outstanding under Platinex' Stock Option Plan and at this time, 1,020,933 options remain available for issuance. Platinex has outstanding 52,009,326 shares and giving consideration to this option issuance 57,239,326 shares on a fully diluted basis.
About Platinex Inc.
Platinex has revealed strong evidence of a major gold bearing zone on its Shining Tree property as evidenced by a provincially significant extraordinarily high gold content of soil samples along a nine km long corridor. In addition to locating and defining the source of the gold anomaly, Platinex is drill targeting the Herrick gold deposit with 66 holes drilled to date and the down dip continuation of the Ronda Mine workings. Platinex intends to finance the work on the Shining Tree property through a bond offering which is in distribution on a best efforts basis (Press Release March 1, 2013). Platinex's management team is a leader in the exploration and development of Platinum Group Elements (PGE's) in North America. Shares of Platinex are listed for trading on the TSX Venture Exchange under the symbol "PTX".
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FORWARD-LOOKING STATEMENTS:
Except for statements of historical fact, all statements in this news release - including, without limitation, statements regarding future plans and objectives, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.
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.
Contact
Platinex Inc.
James R. Trusler, President and CEO
905-470-6400
jtrusler@platinex.com
www.platinex.com