(TheNewswire)
Vancouver, BC. - TheNewswire -May 5 , 2021 - Apex Resources Inc. (“ Apex ”, or the“ Company ”) (TSXV:APX) is pleased to announce that it has closed itspreviously announced transaction (the “ Transaction ”) withWest Mining Corp. (“ West ”) for West to acquire the Company’sremaining 20% interest in the Kena and Daylight Gold-Copper Properties(the “ Project ”) in British Columbia in exchange for: aggregate cashpayments of $300,000; an aggregate of 1,500,000 common shares of West(each, a “ Share ”); and West granting the Company a 1.0% net smelterreturns royalty on the Project, with West having the right to purchasethe NSR for $500,000 at any time prior to the commencement ofcommercial production on the Project.
The Company was issued a Cease Trade Order (the“ Cease TradeOrder ”) by the British Columbia SecuritiesCommission (the “ Commission ”) on November 19, 2020 related tothe Commission’s technical disclosure review previously announced inthe Company’s press release dated December 13, 2019. The Company isstill reviewing all options to correct this situation as quickly aspossible. The Company confirms that the Transaction will not violatethe terms of the Cease Trade Order, and that once the Company filesthe required disclosure with the Commission, the Company will seek tohave the Cease Trade Order revoked. The Company will provide updatesas and when warranted.
For further details regarding the transaction, pleaserefer to the Company’s press release dated April 12, 2021. Forfurther details regarding the Cease Trade Order, please refer to theCompany’s press release dated November 23, 2020. The Company’spress releases are posted on the Company’s website www.apxresources.com .
About Apex Resources Inc.
Apex is a Canadian mining exploration and developmentcompany focused on British Columbia and the Yukon Territories. Apexhas a portfolio of quality properties including:
-
1. The Jersey-Emeraldtungsten-zinc property in southern BC.
-
2. The Ore Hill gold property insouthern BC.
-
3. The Mount Anderson gold-silverproperty in the Yukon.
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., 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 .
Copyright (c) 2021 TheNewswire - All rights reserved.