Plexmar Resources Inc.

Plexmar Resources Inc.

February 15, 2012 09:02 ET

Plexmar Resources Inc.: Proposed Financing

QUEBEC CITY, QUEBEC--(Marketwire - Feb. 15, 2012) - Plexmar Resources Inc. (TSX VENTURE:PLE)

The Company announces its intention to complete a bridge loan of a minimum of $500k to a maximum of $1.4M with accredited investors. The bridge loan will bear a 15% interest per annum and will mature 12 months from the closing date. The funds will be used to make property payments for 2012 and for working capital purposes. At maturity date or before, the Corporation could propose to the Subscribers to reimburse the Bridge Loan and all accrued interest using the "Shares for Debt" Policy 4.3 of TSX Venture Exchange. This possibility remains subject to the approval of the TSX Venture Exchange and securities regulatory authorities.

The terms and conditions of the bridge loan are subject to the approval of the TSX Venture Exchange and securities regulatory authorities.

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.

PROFILE Plexmar is a junior company focused on precious metals in Peru
PROPERTIES Gold :Peru: Oro Del Norte, Marilia,Bolsa Del Diablo,
CORPORATE INFO 228 M shares outstanding
Symbol: PLE (TSX-V)

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

Contact Information

  • Plexmar Resources Inc.
    Guy Bedard, president
    418 658-6776