TORONTO, Nov. 27, 2018 (GLOBE NEWSWIRE) — Platinex Inc. (CSE:PTX) (“Platinex” or the “Company”) announces that Carmelo Marrelli will be stepping into the role as CFO due to internal changes at the Marrelli Support Services office. Cindy Davis, former CFO will still remain on Platinex’s account to assist Carmelo with financial reporting matters as required.
Mr. Robert Blake III has stepped down from the Co-CEO role and from the Board of Directors due to personal reasons. Mr. Blake III will remain as a part of advisory board to the Company and will revisit potential formal involvement as an executive down in future. In addition, the Company announces that Mr. James R. Trusler will be stepping down as Chairman of the Board of Directors. He will remain as a Director of company.
Mr. Walter Henry, Director and CEO of Platinex commented: “On behalf of the board I would like to thank Ms. Davis and Mr. Blake III for their services and look forward to their continued guidance as they move into advisory role to the Company during this important time. We remain excited about the potential cannabis opportunities as we continue review as we explore the space and expect to provide further updates as they become available.”
About Platinex Inc.
Platinex is currently focusing efforts on developing various strategies to capitalize on the lucrative growth of the cannabis sector in North America. At the same time Platinex has been focusing its mining business efforts in assembling a very large property in the Shining Tree gold camp, which has received little modern exploration compared to other gold camps in the Abitibi greenstone Belt. Shares of Platinex are listed for trading on the Canadian Securities Exchange under the symbol “PTX”.
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Walter Henry, President and CEO
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This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such statements include submission of the relevant documentation within the required timeframe and to the satisfaction of the relevant regulators, completing the acquisition of the applicable assets and raising sufficient financing to complete the Company’s business strategy. There is no certainty that any of these events will occur. Although such statements are based on management’s reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances.
Investing into early stage companies inherently carries a high degree of risk, and investment into securities of the Company shall be considered highly speculative. Furthermore, the Company seeks to enter the cannabis market in the United States, where some states have legalized cannabis for medical or adult recreational use, while cannabis remains illegal under United States Federal law. As such, the Company may become subject to additional government regulation and legal uncertainties that could restrict the demand for its services or increase its cost of doing business, thereby adversely affecting its financial results.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any province in which such offer, solicitation or sale would be unlawful. The securities issued, or to be issued, under the Private Placement have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
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