(TheNewswire)
Vancouver, BC - TheNewswire - November 2, 2020 - ApexResources Inc. ( TSXV:APX ) (" Apex " or the " Company ") is pleased to announcethat , subject to the approval of the TSX VentureExchange (the " Exchange "), it has closed a non-brokeredprivate placement (the " Private Placement ") issuing a total of 620,000 units (the " Units ") at $0.10 per Unit, and 690,000Flow Through Units (the " FT Units ") at $0.10 per FT Unit for total gross proceeds of$131,000.
Each Unit is comprised of one (1)common share (the " Share s ") in the capital of theCompany and one (1) non-transferable sharepurchase warrant (the " Warrant s "). Each FTUnit is comprised of one (1) common share in the capital of theCompany and one half (1/2) of a non-transferable share purchasewarrant.
Each full warrant attached to the Units is exercisable into one Share of theCompany for a period of 12 months from the date of issue at anexercise price of $0.1 6 per S hare. The Warrants are subject to an acceleration clause wherebyif the volume-weighted average closing price of the Shares on theExchange is $0.30 or more for 21 consecutive trading days at any timesubsequent to the expiry of six months from the date of issuance ofthe Warrants, then the Company will earn the right by providing notice(the " AccelerationNotice ") to the warrant holders, toaccelerate the expiry date of the Warrants to that date which is 30days from the date of the Acceleration Notice.
The Company paid finders' fees of $8,000 and 52,000finders' warrants (the " Finder's Warrants ") to 6132987 CanadaInc., Canaccord Genuity Corp., Haywood Securities Inc. and PIFinancial Corp. The Finder's Warrants are exercisable under the sameterms as the Private Placement Warrants.
All securities issued will be subject to afour- month holdperiod pursuant to securities laws in Canada. Net proceeds from the Private Placement will be used forproperty mineral exploration and for generalworking capital.
About Apex Resources Inc.
Apex is a Canadian gold exploration and developmentcompany focused on British Columbia and the Yukon Territory. Apex hasa portfolio of quality properties including:
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1. The Mount Anderson gold-silverproperty in the Yukon.
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2. The Kena-Daylight goldproperty in southern BC under option to Boundary Gold and CopperMining Ltd.
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3. The Jersey-Emeraldtungsten-zinc property in southern BC.
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4. The Ore Hill gold property insouthern BC.
Apex management has a track record of mine discoverythat includes the discovery and development of the renowned Hemlo GoldMine in Ontario and the Mengapur copper-gold-molybdenum porphyrydeposit (225Mt @ 0.59% Cu equivalent) in Malaysia now underdevelopment by Monument Mining Ltd.
2020 Exploration Program
Apex has recently completed 1600 metres of NQ diamonddrilling in 10 holes on its Ore Hill Gold Property in SoutheasternBritish Columbia designed to test a 1,500 metre-long, gold soilanomaly. The core is currently being processed and shipped to ALSGlobal Geochemistry Analytical Lab and assay results are pending. (Please see October 13, 2020 News Release)
For further information on the Company's projects,visit www.apxresources.com .
Arthur G. Troup, P.Eng., Geological
President and CEO
For further information please contact:
Marc Lee, Investor and Corporate Communications
Tel: (604) 628-0519 Fax: (604) 628-0446
Email: mlee@apxresources.com or info@apxresources.com
This release was prepared by Apex'smanagement. Neither TSX Venture Exchange nor its Regulation ServicesProvider (as the term is defined in the policies of the TSX VentureExchange) accepts responsibility for the adequacy or accuracy of thisrelease. This news release includes certain statements that may bedeemed "forward-looking statements." All statements in thisrelease, other than statements of historical facts, that addressfuture production, reserve potential, exploration drilling,exploitation activities and events or developments that Apex expectsare forward-looking statements. Although Apex believes theexpectations expressed in such forward-looking statements are based onreasonable assumptions, such statements are not guarantees of futureperformance and actual results or developments may differ materiallyfrom those in the forward-looking statements. Factors that could causeactual results to differ materially from those in forward-lookingstatements include market prices, exploitation and explorationsuccesses, and continued availability of capital and financing, andgeneral economic, market or business conditions. Investors arecautioned that any such statements are not guarantees of futureperformance and those actual results or developments may differmaterially from those projected in the forward-looking statements. Formore information on Apex, investors should review Apex's filings thatare available at www.sedar.com or Apex's website at www.apxresources.com .
The securities referred to in thisnews release have not been, nor will they be, registered under theUnited States Securities Act of 1933, as amended, and may not beoffered or sold within the United States or to, or for the account orbenefit of, U.S. persons absent U.S. registration or an applicableexemption from the U.S. registration requirements.
This news release does not constitutean offer for sale of securities for sale, nor a solicitation foroffers to buy any securities. Any public offering of securities inthe United States must be made by means of a prospectus containingdetailed information about the company and management, as well asfinancial statements.
NOT FOR DISTRIBUTION TO THE UNITEDSTATES OR FOR DISSEMINATION IN THE UNITED STATES
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