(TheNewswire)
Vancouver – TheNewswire - May 8, 2024 – ApexResources Inc. (“Apex” or the “Company”) (TSXV:APX) is pleased to announce that the Company’s shares willresume trading effective at the open of market on Thursday, May 9,2024.
The Company is also pleased to announce that it hasreceived conditional acceptance from the TSX Venture Exchange(“TSXV”) of the previously announced proposed acquisition of allthe shares (the “TargetCo Shares”) of an arm’s lengthcorporation (“TargetCo”) holding a 100% option over theconsolidated mineral rights of the Lithium Creek Property (the“Property”) in Nevada, USA (the “Acquisition”).
1. The Company further announces that it is arranging theconcurrent, part and parcel non-brokered private placement (the“Financing”) which is being conducted in conjunction with theAcquisition. The Company has reduced the size of the Financing to9,000,000 units (the “Units”) to raise gross proceeds of $630,000. Each Unit is comprised of one common share of the Company (an“Apex Share”) and one share purchase warrant (a “Warrant”),with each Warrant entitling the holder to purchase an additional ApexShare for a price of $0.12 for a period of two years, subject to anacceleration provision.
Completion of the Acquisition and Financing are subjectto customary closing conditions to transactions of this nature andfinal acceptance from the TSXV. The Company anticipates thecompletion to occur mid-late this month. All of the 18 million ApexShares to be issued to the vendors of the TargetCo Shares pursuant tothe Acquisition will be deposited into a Tier 2 Value Escrow Agreementand released in accordance with the provisions thereof. All of theApex Shares issued pursuant to the Financing will be subject to afour-month hold period from the closing date.
Other Corporate Update:
At the request of the TSXV, the Company has cancelled1,500,000 stock options that were granted on January 9, 2024. TheCompany intends to re-grant the options at least 10 trading days afterthe trading halt is lifted.
About Apex Resources Inc.
Apex is a mineral exploration company engaged in thebusiness of the acquisition, exploration and development of mineralresource properties. Apex’s common shares trade under the symbol"APX” on the TSXV
On Behalf of the Board of Directors of
Apex Resources Inc.
Jay Roberge
President
Ph. +1(778)895-0247 or info@apxresources.com website: www.apexresources.com
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term in defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this press release.
UTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS:This news release may contain forward-looking information within themeaning of applicable securities laws (“forward-lookingstatements”). Forward-looking statements are statements that are nothistorical facts and are generally, but not always, identified by thewords “expects,” “plans,” “anticipates,” “believes,”“intends,” “estimates,” ‘projects,” “potential” andsimilar expressions, or that events or conditions “will,”“would,” “may,” “could” or “should” occur. Theseforward-looking statements are subject to a variety of risks anduncertainties which could cause actual events or results to differmaterially from those reflected in the forward-looking statements,including, without limitation: receipt of regulatory approvals; risksrelated to fluctuations in metal prices; uncertainties related toraising sufficient financing to fund the planned work in a timelymanner and on acceptable terms; changes in planned work resulting fromweather, logistical, technical or other factors; the possibility thatresults of work will not fulfill expectations and realize theperceived potential of the Company’s properties; risk of accidents,equipment breakdowns and labour disputes or other unanticipateddifficulties or interruptions; the possibility of cost overruns orunanticipated expenses in the work program; the risk of environmentalcontamination or damage resulting from Apex’s operations and otherrisks and uncertainties. Any forward-looking statement speaks only asof the date it is made and, except as may be required by applicablesecurities laws, the Company disclaims any intent or obligation toupdate any forward-looking statement, whether as a result of newinformation, future events or results or otherwise.
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