TORONTO and MUNICH, Germany, June 12, 2018 (GLOBE NEWSWIRE) -- TANTALEX Resources Corporation (CSE:TTX) (FSE:1T0) (“TANTALEX” or the “Corporation”), announces that it has agreed to enter into various agreements pursuant to which Tantalex will settle $967,813 of debt through the issuance of 6,452,086 units based on an agreed issue price of $0.15 per unit (the “Units”), each Unit being comprised of one common share in the share capital of Tantalex and one common share purchase warrant exercisable at a price of $0.18 for a period of 36 months from the date of issuance. Tantalex determined to satisfy the indebtedness with Units in order to preserve its cash.
The Units to be issued in satisfaction of the indebtedness will be subject to a four month statutory hold period from the date of issuance.
About TANTALEX Resources Corporation
TANTALEX is a mining company engaged in the acquisition, exploration, development and distribution of Tantalum and other high-tech mineral properties in Africa. The Corporation is listed on the Canadian Stock Exchange (symbol: TTX) and the Frankfurt Stock Exchange (symbol: 1T0).
Cautionary Note Regarding Forward Looking Statements
The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although TANTALEX believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, TANTALEX disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.
The Canadian Securities Exchange (CSE) has not reviewed this news release and does not accept responsibility for its adequacy or accuracy.
For further information, please contacts Investor relations: ir@tantalex.ca
Or visit us at: WWW.TANTALEX.CA
TANTALEX Resources Corporation
Dave Gagnon
Chief Executive Officer
+16479637476
dg@tantalex.ca