PPX Mining Corp. Closes Private Placement
VANCOUVER, March 7, 2022 - PPX Mining Corp. (the "Company" or "PPX") is pleased to announce that it has completed its previously announced non-brokered private placement (the "Private Placement") pursuant to which the Company issued 3,583,000 common shares in the capital of the Company (each, a "Common Share") at a price of CDN$0.06 per Common Share for gross proceeds to the Company of CDN$214,980. The net proceeds of the Private Placement will be used for general working capital purposes. In connection with the Private Placement, PPX paid aggregate finder's fees of $17,198.40 (the "Finder's Fees") to arm's length finders. In accordance with applicable Canadian securities legislation, all Common Shares issued pursuant to the Private Placement are subject to a hold period expiring on July 8, 2022. The Private Placement is subject to the final acceptance of the TSX Venture Exchange.
On behalf of the Board of Directors
Brian J. Maher
President and Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT:
PPX Mining Corp.
Brian J. Maher, President and Chief Executive Officer
Phone: 1-530-913-4728
Email: brian.maher@ppxmining.com
Website: www.ppxmining.com
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 final regulatory approval of 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.