Explorex Resources Assigned Legal Entity Identifier Number by Deutsche Borse Group
Vancouver, January 9, 2018 - Explorex Resources Inc. (CSE: EX) (FSE: 1XE) (the "Company" or "Explorex") announces that it has been assigned the Legal Entity Identifier (LEI) number 529900XQEJ5KBTNB4R85. The European Union has adopted regulations that require use of the LEI as a barcode equivalent aimed at pinpointing systemic risks. "As we are listed and actively trade on one or more stock exchanges or trading platforms in Germany, and are committed to our European shareholders, we welcome the additional transparency and reassurance that it provides" stated Gary Schellenberg, CEO.
About the Legal Entity Identifier (LEI)
The Legal Entity Identifier (LEI) number is a 20-digit alphanumeric code. It is an internationally standardized and globally valid identifier for financial market participants. Its purpose is to clearly and unequivocally identify contracting parties (e.g., companies, banks and investment funds). It is used to comply with a variety of financial reporting requirements in Europe, including trading, clearing, settlement, custody, collateral and liquidity management, market data and indices. The Deutsche Bӧrse Group has stated that "the LEI will clearly assist the regulatory authorities in monitoring and analysing threats to the stability of the financial markets and it can also be utilised by counterparties for risk management purposes".
(See http://deutsche-boerse.com/dbg-en/regulation/regulatorytopics/legal-entity-identifier)
Explorex meets the requirement for all companies listed on German Stock Exchanges (i.e. Frankfurt Stock Exchange) to have an LEI number by January 3, 2018.
About Explorex Resources Inc.
Explorex is an exploration company that owns 100% of the Chrysler Lake project and has an option agreement to acquire 100% interest in the Cobalt-Paragon project, both of which are located within the Cobalt Embayment region of northeastern Ontario. The cobalt projects form a nucleus of a strategy to acquire additional projects where the commodity focus is on metals critical to rechargeable battery technology. The Company also owns 100% of the Silver Dollar project, subject to issuance of an additional 800,000 shares.
On behalf of the Board,
Gary Schellenberg,
CEO
For further information, please contact Gary Schellenberg, CEO or Mike Sieb, President at 604-681-0221 or Ron Birch at bircress@shaw.ca; phone 1-800-910-7711
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company. Readers are cautioned not to place undue reliance on forward looking statements.