Essex Resources Corp. Completes IPO and Announces Listing on the TSX Venture Exchange
News Release - Vancouver, British Columbia – October 23, 2025: Essex Resources Corp. (TSX- V: ESXR) (the “Company”) is pleased to announce that it has completed its initial public offering (“IPO”) in which it distributed 2,700,000 common shares at a price of $0.15 per common share and 1,000,000 flow-through common shares at a price of $0.20 per flow-through share, for aggregate gross proceeds of $605,000. The Company’s common shares were listed on October 22, 2025 (after market close) and are expected to commence trading on the TSX Venture Exchange on or about October 23, 2025 under the trading symbol “ESXR”.
Leede Financial Inc. (the “Agent”) acted as exclusive agent in respect of the IPO on a commercially reasonable efforts basis. Pursuant to the IPO, the Agent received a cash commission of $37,600 and an aggregate of 224,000 non-transferable common share purchase warrants entitling the Agent and members of its selling group to purchase 224,000 common shares at $0.15 per common share at any time until October 23, 2028. The Agent also received a corporate finance fee of $35,000 plus GST, of which $15,000 was payable in common shares of the Company at a deemed price of $0.15 per common share, being 100,000 common shares.
The Company holds an option to acquire a 100% right, title and interest in and to eight (8) mineral claims comprising a total of approximately 1,048 hectares in the Similkameen Mining Division, British Columbia (the “Rabbitt Property”).
As a result of the closing of the IPO, the Company now has 9,475,000 Shares issued and outstanding as of the date hereof, of which 3,575,000 Shares are subject to escrow pursuant to National Policy 46-201, released 10% on the IPO closing date with an additional 15% released every six months over a 36-month period.
Certain insiders of the Company participated in the IPO, acquiring an aggregate of 100,000 flowthrough shares at $0.20 per flow-through share for a total purchase price of $20,000. Participation of such insiders in the IPO constitutes a “related party transaction” as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”) and is exempt from the formal valuation and minority shareholder approval requirements of MI 61- 101 as neither the fair market value of the securities issued to the insiders nor the consideration paid by the insiders exceeded 25% of the Company’s market capitalization. The Company did not file a material change report less than 21 days before the expected closing date of the IPO as the insider participation was not settled until shortly prior to closing and the Company wished to close on an expedited basis for sound business reasons.
Additional information on the Company, the IPO and the Rabbitt Property, can be found in the Company’s final long form prospectus dated September 4, 2025 as filed on SEDAR+ at www.sedarplus.ca.
About Essex Resources Corp.: Essex Resources Corp. is a mineral exploration company focused on the acquisition, exploration and development of mineral resource properties. The Company has an option to acquire a 100% interest and title to the Rabbitt Property located in the Similkameen Mining Division, British Columbia.
Contact Information - For more information, please contact:
Anthony Zelen, Chief Executive Officer & Director Tel: (778) 388-5258 Email: [email protected]
The securities offered pursuant to the IPO 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 U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This press release contains “forward‐looking information or statements” within the meaning of Canadian securities laws, which may include, but are not limited to statements relating to the date of first trading in the Company’s common shares and its future business plans. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, fluctuations in metal and commodity prices, market prices, failure to obtain permits, the impact of viruses and diseases on the Company’s ability to operate and on capital market conditions in general, and continued availability of capital and financing, and general economic, market or business conditions. Such forwardlooking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including those set out in the Company’s final long form prospectus dated September 4, 2025 and filed under the Company’s profile on SEDAR+ at www.sedarplus.ca. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information. Except as required by applicable securities laws, the Company undertakes no obligation to update these forwardlooking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.