- Platinex (PTX) has closed the first tranche of a non-brokered private placement for gross proceeds of $1.93 million
- The company issued 3,294,000 units and 3,800,000 flow-through units
- Each unit consists of one common share and one-half of a common share purchase warrant
- Proceeds will be used to incur exploration expenses on its properties in Ontario
- Platinex Inc. is a Canada-based mining exploration company
- Platinex Inc. (PTX) opened trading at C$0.055 per share
Platinex (PTX) has closed the second and final tranche of the non-brokered private placement for gross proceeds of $1.93 million.
Under the final tranche, the company issued 3,294,000 units at a price of C$0.05 per unit and 3,800,000 flow-through units at a price of C$0.06 per unit.
Each unit consists of one common share and one-half of a common share purchase warrant. Each whole warrant is exercisable into a common share at an exercise price of $0.07 for a period of 36 months from the closing of the offering.
Proceeds will be used to incur exploration expenses on its properties in Ontario including the W2 Copper-Nickel-PGE Project and the Shining Tree Gold Project and for general corporate purposes.
Greg Ferron, President & CEO of Platinex stated,
“We are thrilled to see most of the financing taken by new shareholders, and we appreciate the ongoing support from existing shareholders that participated.”
Platinex paid a cash commission and finder’s warrants to eligible finders.
All securities issued are subject to a four-month hold period in accordance with applicable securities laws.
Platinex Inc. is a Canada-based mining exploration company engaged in the exploration and development of mineral properties in Canada.
Platinex Inc. (PTX) opened trading at C$0.055 per share.