In This Article:
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES
TORONTO, ON / ACCESS Newswire / March 20, 2025 / PPX Mining Corp. ("PPX" or the "Company") is pleased to announce that it intends to complete a non-brokered private placement for aggregate gross proceeds of up to C$765,000 (the "Offering").
The Offering involves the sale of up to 17,000,000 units (the "Units") at a price of C$0.045 per Unit for gross proceeds of up to C$765,000. Each Unit will consist of one common share of the Company and one common share purchase warrant, with each warrant entitling the holder to acquire one common share of the Company at a price of C$0.07 for a period of 24 months from the date of closing. The Company intends to use the proceeds from the Offering to finance further exploration at Mina Callanquitas and for working capital.
The closing of the Offering is expected to occur on or around April 30, 2025 (the "Closing Date") and is subject to the completion of formal documentation and receipt of all applicable regulatory approvals, including the approval of the TSX Venture Exchange. The common shares, warrants and any common shares issued on the exercise of warrants sold in the Offering, if issued within four months of the Closing Date, will be subject to a four month hold period from the closing of the Offering under applicable Canadian securities laws. The Company reserves the right to increase or decrease the size of the Offering, subject to the approval of the TSX Venture Exchange. Finder's fees may be payable to arm's length finders in connection with the Offering.
This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About PPX Mining Corp:
PPX Mining Corp. (TSX.V:PPX.V)(BVL:PPX) is a Canadian-based mining company with assets in northern Peru. Igor, the Company's 100%-owned flagship gold and silver project, is located in the prolific Northern Peru gold belt in eastern La Libertad Department.
On behalf of the board of directors of the Company:
Brian Imrie
Executive Chaiman
82 Richmond Street East
Toronto, Ontario M5C 1P1
Canada
416-361-0737