PJX Resources Inc.

PJX Resources Inc.

September 09, 2011 15:21 ET

PJX Resources Inc. Closes $2,500,000 Initial Public Offering

TORONTO, ONTARIO--(Marketwire - Sept. 9, 2011) -


PJX Resources Inc. (the "Corporation" or "PJX") is pleased to announce that it has completed its initial public offering (the "Offering"). Pursuant to the Offering, the Corporation issued (i) an aggregate of 10,500,000 common shares at a price of $0.20 per common share, and (ii) 1,600,000 common shares that qualify as "flow-through shares" as defined in subsection 66(15) of the Income Tax Act (Canada) at a price of $0.25 per flow-through common share (collectively, the "Securities"), for total gross proceeds of $2,500,000. The Securities were qualified for distribution pursuant to the final prospectus of the Corporation dated June 29, 2011 (the "Prospectus"), filed in the provinces of British Columbia, Alberta and Ontario. The Offering was completed through PI Financial Corp. (the "Agent").

In connection with the Offering, the Corporation paid the Agent a $250,000 cash commission and a $25,000 Corporate Finance Fee. In addition, the Corporation issued to the Agent 1,210,000 compensation warrants, each such compensation warrant entitling the holder thereof to acquire one common share of the Corporation at a price of $0.20 until September 9, 2014.

The net proceeds from the Offering will be used to fund the Corporation's exploration program, operating expenses and unallocated working capital.

The Corporation expects its common shares to commence trading on the TSX Venture Exchange on or about September 14, 2011 under the symbol "PJX".

These securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or the securities laws of any state or jurisdiction within the United States. Accordingly, these securities may not be offered or sold within the United States except in transactions exempt from the registration requirements of the 1933 Act and applicable state laws. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities offered hereby within the United States of America unless it is accompanied by appropriate additional disclosure, and in such case subject to all applicable United States securities laws.

About PJX Resources Inc.

PJX is a mineral exploration company focused on building shareholder value and community opportunity through the exploration and development of mineral resources with a focus on gold. PJX's primary properties are located in the historical mining area of Cranbrook and Kimberley, British Columbia.

Forward-Looking Information

This release contains forward-looking statements, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to, statements with respect to completion of economic assessments, exploration results, the success of exploration activities generally, mine development prospects, and future gold production. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "planning", "expects" or "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or "belief", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the results of due diligence activities, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of gold; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in PJX's publicly filed documents.

Although PJX has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

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