TORONTO, ONTARIO--(Marketwired - Aug. 21, 2013) - Platinex Inc. (TSX VENTURE:PTX), announced a non-brokered offering of up to 2,500,000 units at $0.02/unit to raise $50,000. Each unit consists of one common share and one warrant.
Each warrant is exercisable for a common share for Platinex at an exercise price of $0.05 on or before the date which is 12 months after the first closing of offering and at an exercise price of $0.10 on or before the date which is 24 months after the first closing of the offering. Provided that if the average closing price of Platinex's common shares trade at a price of $0.15 for 20 consecutive days four months after the initial closing of the offering, Platinex may give written notice to the holders of the warrants changing the expiry date to a date which is not less than 30 days following that written notice.
The aggregate proceeds raised from the issuance of Working Capital Units will be used for working capital purposes.
The securities issued in this closing are subject to a four month hold period from the initial closing of the financing.
Effective September 1 2013, Platinex's address will be:
|11 Algonquin Crescent
About Platinex Inc.
Platinex has recently revealed strong evidence of a major gold bearing zone on its Shining Tree property as evidenced by a provincially significant, extraordinarily high gold content of soil samples along a nine km long corridor. Platinex is expanding exploration on the Herrick gold deposit with 62 holes drilled to date with an average grade of 2.10 g/tonne gold. Platinex is a leader in the exploration for Platinum Group Elements (PGE's) in North America. Shares of Platinex are listed for trading on the TSX Venture Exchange under the symbol "PTX".
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Except for statements of historical fact, all statements in this news release - including, without limitation, statements regarding future plans and objectives, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.
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.