Apex Resources Announces Shares Issuance
Vancouver, BC - TheNewswire - October 24, 2019 - Apex Resources Inc. ("Apex") (TSXV:APX) is pleased to announce that it has reached an amended agreement with Mr. Robert Bourdon and Mr. Lloyd Addie (the 'Optionors') with regards to the 2019 Advance Royalty Payments on the Jersey Property in southeastern British Columbia. Under the terms of the amended agreement, Apex will pay the Optionors cash payments totalling $25,000 and issue an equivalent dollar amount in common shares of Apex in lieu of the $50,000 annual Advance Royalty Payment due in 2019. This will be a shares for debt transaction subject to TSX regulatory approval.
In other news, Apex's Board of Directors have agreed to grant Director Mr. Ralph Gonzalez 150,000 in stock options to commensurate with stock options previously granted to other officers, directors and consultants. The stock options are excercisable at a price of $0.15 per share and are due to expire on March 22, 2022. Mr. Gonzalez joined Apex in July 2017.
About Apex Resources Inc.
Apex is a Canadian gold exploration and development company focused on British Columbia and the Yukon Territories. Apex has a portfolio of quality properties including:
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1.The Mount Anderson gold-silver property in the Yukon.
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2.The Kena-Daylight gold property in southern BC under option to Prize Mining Corp.
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3.The Jersey-Emerald tungsten-zinc property in southern BC.
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4.The Ore Hill gold property in southern BC.
Apex management has a track record of mine discovery that includes the discovery and development of the renowned Hemlo Gold Mine in Ontario and the Mengapur copper-gold-molybdenum porphyry deposit (225Mt @ 0.59% Cu equivalent) in Malaysia now under development by Monument Mining Ltd.
For further information on the Company's projects, visit www.apxresources.com.
Arthur G. Troup, P.Eng., Geological
President and CEO
For further information please contact:
Marc Lee, Investor and Corporate Communications
Tel: (604) 628-0519 Fax: (604) 628-0446
Email: mlee@apxresources.com or info@apxresources.com
This release was prepared by Apex's management. Neither TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that Apex expects are forward-looking statements. Although Apex believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on Apex, investors should review Apex's filings that are available at www.sedar.com or Apex's website at www.apxresources.com.
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