(TheNewswire)
Vancouver, BC – TheNewswire - February 17,2022, – Apex Resources Inc. ( TSXV:APX ) (“ Apex ” or the“ Company ”) is pleased to announce that further to its news release of January 17, 2022, the TSX VentureExchange (the “ Exchange ”) has granted an extension to March7, 2022 for closing and filing final documentation in respect ofApex’s previously announced non-brokered private placement. The Company plans to raise total grossproceeds of up to $500,000 through the issuance of approximately 10.0Munits (the “ Units ”) at $0.05 per Unit. Each Unit is comprised of one (1)common share (the “ Share s ”) in the capital of Apex and one (1) non-transferable share purchase warrant (the“ Warrant s ”).
The Warrants attached to the Units will be exercisable into one Share ofthe Company for a period of 24 months from the date of issue at anexercise price of $0.1 0 per S hare. TheWarrants are subject to an acceleration clause whereby if the volumeweighted average closing price of the Shares on the Exchange is $0.15or more for 21 consecutive trading days at any time subsequent to theexpiry of six months from the date of issuance of the Warrants, thenthe Company will earn the right by providing notice (the“ AccelerationNotice ”) to the warrant holders, to acceleratethe expiry date of the Warrants to that date which is 30 days from thedate of the Acceleration Notice. The Company may pay a Finder’sFee of up to 7% cash and 7% finder’s warrants to qualified parties. Each finder’s warrants will be exercisable under the same terms asthe private placement warrants.
The Private Placement is subject to an over-allotmentoption exercisable at thesole discretion of the Company any time prior to closing to issue upto an additional 5,000,000 Shares for up to anadditional $ 25 0,000 of gross proceeds. (allreferences to "Private Placement" include references to anyShares issued pursuant to the over-allotment option).
All securities issued in connection with the PrivatePlacement will be subject to a hold period and may not be traded forfour months plus one day from the date of closing of the PrivatePlacement. Net proceeds from the Private Placement will be used forproperty exploration, acquisitions and forgeneral working capital.
The Company welcomes all qualified investors toparticipate in the Private Placement.
About Apex Resources Inc.
Apex is a Canadian mineral exploration and developmentcompany focused on the Americas. Apex has a portfolio of qualityproperties including:
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The Jersey-Emerald tungsten-zinc property in southernBritish Columbia, Canada.
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The Ore Hill gold property in southern BritishColumbia, Canada.
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.
For further information on the Company's projects,visit www.apxresources.com .
Arthur G. Troup, P.Eng.,
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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