Platinex Announces Flow Through Private Placement Financing

Platinex Announces Flow Through Private Placement Financing

TORONTO, Dec. 17, 2020 (GLOBE NEWSWIRE) — Platinex Inc. (CSE: PTX) (the “Company” or “Platinex“) wishes to announce a non-brokered flow through private placement of up to $500,000.
The non-brokered private placement (the “Private Placement“) shall consist of up to 6,666,666 units (“Units“) at $0.075/Unit to raise up to $500,000. Each Unit will consist of one flow-through common share (“FT Share“) of the Company and one half of one Common Share purchase warrant. Each full warrant (“Warrant“) is exercisable into a Common Share at an exercise price of $0.10 for a period of 24 months following the closing of the Private Placement.The closing date of the Private Placement is anticipated to occur on or about December 29, 2020 or such other date determined by the Company.The Company will use the proceeds to incur Canadian Exploration Expenses in Ontario on its Shining Tree property.The Company may pay a cash commission equal to 6% of the proceeds from purchasers introduced to the Corporation by the Finder and a Finder’s Warrant equal to 6% of the securities sold to purchasers introduced to the Corporation by the finder. The Finder’s Warrant shall be exercisable into Common Shares at an exercise price of $0.075 for a period of 18 months following the closing of the Private Placement.All securities issued in connection with this Private Placement will be subject to a four month plus one day hold period from the date of issuance in accordance with applicable securities laws.Lori Paradis, Assistant Secretary
Tel: (416) 268-2682
Email: lparadis@platinex.com
Web: www.platinex.com
About Platinex Inc. – Advancing a District Scale Project in an Abitibi Gold Camp
Platinex is focusing its efforts on the exploration of its property in the Shining Tree District. Platinex has created the largest gold focused property package in the Shining Tree District, Northern Ontario, which has received little modern exploration compared to other gold camps in the Abitibi Greenstone Belt. The Company is also utilizing its proprietary data to seek financial backing to secure and advance major Platinum Group Element properties in North America. Shares of Platinex are listed for trading on the Canadian Securities Exchange under the symbol “PTX”.  To receive Company press releases, please email lparadis@platinex.com

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