James R. Trusler

March 16, 2017 18:47 ET

Shareholder Updates Ownership in Platinex Inc.

TORONTO, ONTARIO--(Marketwired - March 16, 2017) - James R. Trusler, c/o Platinex Inc., Suite 807, 20 William Roe Blvd., Newmarket, ON L3Y 5V6 (the "Offeror"), announces that his ownership of securities of Platinex Inc. (the "Company") has been decreased to less than 10% of the Company's issued and outstanding share capital as a result of common share issuances by the Company in the market.

Prior to the issuance of common shares by Company during November 25, 2016 through February 17, 2017, Mr. Trusler, Director and President of the Company, held 7,350,760 common shares, representing 11.3% of the issued and outstanding shares of the Company, and assuming exercise of 1,100,000 common share purchase warrants, Mr. Trusler would have held 8,450,760 common shares, representing 12.7% of the then issued and outstanding shares of the Company.

Following the issuance of shares of the Company during November 25, 2016 through February 17, and exercises of warrants by holders thereof, Mr. Trusler owns 7,350,760 common shares, representing 9.9% of the issued and outstanding shares of the Company, and assuming exercise of 1,100,000 warrants and 1,240,000 stock options, Mr. Trusler would hold 9,700,760 common shares, representing 12.7% of the issued and outstanding shares of the Company.

The Offeror acquired these securities for investment purposes and has no present intention to acquire further securities of the Company, although it may in the future acquire or dispose of securities of the Company, through the market, privately or otherwise, as circumstances or market conditions warrant.

This news release is issued pursuant to National Instrument 62-103 - The Early Warning System. A copy of the Early Warning Report will appear with the Company's documents on the SEDAR website at www.sedar.com.

Neither 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.

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