April 05, 2013 16:13 ET
VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 5, 2013) - Prominex Resource Corp. (TSX VENTURE:PXR) (the "Company" or "Prominex") has cancelled the private placement announced on November 8, 2012. The Company is offering 23,333,333 Units at $0.015 for gross proceeds of up to $350,000.00 (the "Private Placement"). Each Unit comprises one common share and one full share purchase warrant. Each warrant is exercisable into one common share for a period of 12 months from closing at a price of $0.05 per share.
The Company is offering the private placement under the "Relief Measures" implemented by the TSX Venture Exchange on August 17, 2012 and as amended and extended on December 12, 2012 to April 30, 2013.
All values are in Canadian dollars unless otherwise specified. The Offering is subject to the receipt of all necessary approvals of the TSX Venture Exchange, completion of definitive documentation and the receipt of all necessary third party approvals.
Prominex intends to use the 100% of the proceeds from the transaction, to satisfy current liabilities and to further exploration programs at the Tulks Hill and Lake Bond properties located in central Newfoundland, and for general working capital.
ON BEHALF OF THE BOARD
Gordon Barron, President and CEO
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, and no securities regulatory authority has approved or disapproved of the contents of this release.
Prominex Resource Corp.Gordon BarronPresident and CEO1.604.566.1094www.prominex.ca
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