Prominex Resource Corp.
TSX VENTURE : PXR

Prominex Resource Corp.

April 13, 2011 16:47 ET

Prominex Annonces Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 13, 2011) - Prominex Resource Corp. (TSX VENTURE:PXR) is pleased to announce a non-brokered private placement of up to 5,000,000 units ("Units") at CAD $0.05 per unit. Each unit consists of one common share ("Common Share") and one full common share purchase warrant ("Warrant"). Each warrant will be exercisable at CAD $0.10 into one common share for a period of 12 months from Closing.

The proceeds from this financing will be used to further exploration activities at Tulks Hill and for general working capital. A finder's fee of up to 10% may be paid to arms length parties with respect to the private placement. The private placement may close in tranches.

The offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. The securities issued pursuant to the offering will be subject to a four month plus one day hold period from date of issuance.

The securities proposed to be offered in the private placement have not been registered under the U.S. Securities Act of 1933, as amended, or any State securities laws, and may not be offered or sold in the United States or to U.S. Persons absent registration or an applicable exemption from the registration requirements.

ON BEHALF OF THE BOARD OF DIRECTORS:

Gordon Barron, President and CEO

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Prominex Resource Corp.
    Gordon Barron
    President and CEO
    1.604.566.1094
    www.prominex.ca