TANTALEX Resources Corporation
CSE : TTX
FRANKFURT : 1T0

TANTALEX Resources Corporation

September 02, 2016 13:53 ET

TANTALEX Resources Corporation Announces A Non-Brokered Private Placement of A Maximum of $1,000,000

TORONTO, ONTARIO and MUNICH, GERMANY--(Marketwired - Sept. 2, 2016) - TANTALEX Resources Corporation (CSE:TTX)(FRANKFURT:1T0) ("TANTALEX" or the "Corporation"), announces that it intends to complete a non-brokered private placement financing (the "Offering") for gross proceeds up to a maximum of $1,000,000 through the issuance of 10,000,000 units at a price of $0.10 per unit (each a "Unit"), each Unit being comprised of one common share in the share capital of the Corporation and one share purchase warrant entitling the holder to purchase one common share of the Corporation at a price of $0.15 for a period of 18 months from the closing of the Offering. A finder's fee will be paid on the Offering to an Exempt Market Dealer. The finder's fee will consist of 8% of the gross proceed of the Offering paid in cash and 8% in compensation warrants.

The gross proceeds from the Offering will be used by the Corporation for general working capital purposes and financing its ongoing mining operations in the Katanga Province of the Democratic Republic of Congo.

All securities to be issued under the Offering are subject to a four-month statutory hold period in Canada.

About TANTALEX Resources Corporation

TANTALEX is a mining company engaged in the acquisition, exploration, development and distribution of Tantalum and other high-tech mineral properties in Africa. The Corporation is listed on the Canadian Stock Exchange (symbol: TTX) and the Frankfurt Stock Exchange (symbol: 1T0).

Cautionary Note Regarding Forward Looking Statements

The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although TANTALEX believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, TANTALEX disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.

The Canadian Securities Exchange (CSE) has not reviewed this news release and does not accept responsibility for its adequacy or accuracy.

For further information, please contact Investor relations: ir@tantalex.ca Or visit us at: WWW.TANTALEX.CA

Contact Information

  • TANTALEX Resources Corporation
    Dave Gagnon
    Chief Executive Officer
    +16479637476
    +137254728653
    dg@tantalex.ca

    TANTALEX Resources Corporation
    Kyle Appleby
    Chief Financial Officer
    +14164179176
    ka@tantalex.ca