TORONTO, ONTARIO--(Marketwired - March 30, 2017) - Platinex Inc. (CSE:PTX)(CSE:PTX.CN) (the "Company") has agreed to a purchase and sale agreement on 96 claim units totaling 1,536 hectares (3,840 acres). The vendor will receive 86,705 shares of Platinex Inc. in exchange for Platinex receiving a 100% interest in the claim block. The units are contiguous with the Platinex Shining Tree project, centered on the Ridout-Tyrrell Fault zone between IAMGOLD Corp's Cote Lake project and Tahoe Resources' Juby Project. The acquisition now brings Platinex holdings in the Shining Tree area to 476 claim units covering 7,616 hectares (19,040 acres).
About Platinex Inc.
Platinex's goal is to create shareholder value through entrepreneurial endeavors and its existing mineral exploration activities. The mining focus is currently on the Shining Tree gold camp, which has received little modern exploration compared to other gold camps in the Abitibi Greenstone Belt, but its potential is accentuated by several major discoveries along strike in recent years. Its current entrepreneurial activities include the establishment of a cannabis mall. Shares of Platinex are listed for trading on the Canadian Securities Exchange ("CSE") under the symbol "PTX".
The information presented in this news release has been reviewed and approved by James R. Trusler, Geological Engineer, the Chief Executive Officer of the Company and the Qualified Person for exploration at the Shining Tree property, as defined by National Instrument 43-101 "Standards of Disclosure for Mineral Projects".
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Certain of the information contained in this news release may contain "forward-looking information". Forward-looking information and statements may include, among others, statements regarding the future plans, costs, objectives or performance of Platinex, or the assumptions underlying any of the foregoing. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking statements and information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control. The Company does not intend, nor does the Company undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.
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