Platinex Inc.
TSX VENTURE : PTX

Platinex Inc.

September 07, 2016 20:39 ET

Platinex Grants Stock Options

TORONTO, ONTARIO--(Marketwired - Sept. 7, 2016) - Platinex Inc. (TSX VENTURE:PTX), announced that it has granted stock options to purchase 4,700,000 common shares at $0.05 per share to officers, outside directors and eight consultants. The options will expire on September 7, 2021.

Conditional on TSX-V approval, 2,500,000 options were granted to the following directors and officers of Platinex:

James Trusler Director & CEO 1,000,000
Bruce Reilly Director & CFO 750,000
Walter Henry Director 250,000
Tom Hussey Director 250,000
Lorne Burden Director 250,000

Pursuant to the grant of these options, a total of 6,300,000 options are outstanding under Platinex' Stock Option Plan at this time, and 192,932 options remain available for issuance. Platinex has outstanding 64,929,326 shares and giving consideration to this option issuance and a financing closed on August 25, 2016, 83,949,326 shares on a fully diluted basis.

About Platinex Inc.

Platinex's goal is to create shareholder value through exploration, opportunistic acquisition and discovery of commercial deposits with a focus on gold. Platinex has 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 (glacial till) along a nine km long corridor. Platinex has commissioned an independent valuation of the Herrick deposit. The Central Zone of the Herrick deposit has been systematically sampled over a 361 m length returning an average of 6.98 g/t Au/1.9 m true width. Sixty two holes to a depth of 300 meters have been drilled to initially assess the Herrick deposit. Shares of Platinex are listed for trading on the TSX-V under the symbol "PTX".

FORWARD-LOOKING STATEMENTS:

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-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Contact Information