Apex Closes First Tranche of Financing
Apex Closes First Tranche of Financing
Vancouver, British Columbia--(Newsfile Corp. - February 11, 2025) - Apex Resources Inc. (TSXV: APX)
(OTC Pink: SLMLF) ("Apex" or the "Company") is pleased to announce that further to its news release
dated January 3, 2025, it has closed the first tranche (the "
First Tranche
") of its non-brokered financing
(the "
Financing
") with the issuance of 3,800,000 units at a price of $0.05 per unit (a "
Unit
") for gross
proceeds of $190,000.
Each Unit is comprised of one common share of the Company and one non-transferrable common share
purchase warrant (a "
Warrant
").
Each Warrant entitles the holder to purchase one additional common
share of the Company (a "
Warrant Share
") at a price of $0.10 per Warrant Share for a period of two
years expiring on February 10, 2027 (the "
Expiry Date
"), subject to the Acceleration Provision (as
defined below).
If at any time prior to the Expiry Date, the Company's common shares trade at or above a price of $0.20
per common share on the TSX Venture Exchange (the "
Exchange
") for a period of 10 consecutive
trading days commencing four months plus one day after the date of issuance of the Warrants, the
Company may, at its option, accelerate the expiry of the Warrants by issuing a press release announcing
such acceleration (the "
Acceleration Press Release
"), and, in such case, the Expiry Date shall be
deemed to be the 30th day following the date of issuance of the Acceleration Press Release (the
"
Acceleration Provision
").
The securities issued pursuant to the First Tranche are subject to a four-months and one day hold period
expiring June 11, 2025.
The Company intends to continue with the remainder of the Financing to raise aggregate gross
proceeds of up to $750,000.
Completion of subsequent tranche(s) of the Financing remains subject to
approval by the Exchange and all securities issued under any subsequent tranche(s) will be subject to a
four month and one day hold period calculated the date of closing of such subsequent tranche(s).
This news release does not constitute an offer to sell or a solicitation of an offer to sell 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 U.S. state
securities laws, and may not be offered or sold within the United States or to, or for the account or
benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent registration
under the U.S. Securities Act and applicable state securities laws or an exemption from such
registration requirements is available.
About Apex Resources Inc.
Apex is a mineral exploration company engaged in the business of the acquisition, exploration and
development of mineral resource properties. Apex's common shares trade under the symbol "APX" on
the TSX-V & "SLMLF" on the OTC Pink.
Apex has an option to acquire the Lithium Creek Project (the "Project") 70 KM east of Reno, Nevada.
The Project is a new, district scale exploration project that has never been systemically explored or drill
tested for Lithium brines.
The Project covers approximately 8240 acres and adjacent lands within the aerially extensive Fernley
and Carson Sinks. These sinks have large expansive playas and lay within large hydrographic basins
with a combined area of approximately 1.4 million-acres.
The Project is located within 30 minutes of the Nevada lithium battery hub of the Tahoe-Reno Industrial
Center ("TRIC") via Interstate Highway I-80, and is ideally located and supported by extensive
infrastructure to include existing roads, railroad access, fiber optics and geothermal power.
TRIC is a privately owned 107,000-acre (167 sq mi; 430 km
2
) industrial park, located in Storey County,
east of Reno, Nevada. The center is the largest in the United States (third largest in the world) and is
home to more than a hundred companies and their warehouse logistics centers and fulfillment centers
such as PetSmart, Home Depot, Walmart and others. The Gigafactory Nevada was built there to serve
Tesla, Inc. and Panasonic.
On Behalf of the Board of Directors of
Apex Resources Inc.
Ron Lang,
President & CEO
Ph. +1(250) 212-7119 or
website:
www.apxresources.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term in defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
press release.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This news release may
contain forward-looking information within the meaning of applicable securities laws ("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, including but not limited to, closing of subsequent tranche(s) of the
Financing. These forward-looking statements are subject to a variety of risks and uncertainties which
could cause actual events or results to differ materially from those reflected in the forward-looking
statements, including, without limitation: risks related to fluctuations in metal prices; uncertainties related
to raising sufficient financing to fund exploration work in a timely manner and on acceptable terms;
changes in planned work resulting from weather, logistical, technical or other factors; the possibility that
results of work will not fulfill expectations and realize the perceived potential of the Project; risk of
accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions;
the possibility of cost overruns or unanticipated expenses in conducting work programs; the risk of
environmental contamination or damage resulting from Apex's operations and other risks and
uncertainties. Any forward-looking statement speaks only as of the date it is made and, except as may
be required by applicable securities laws, the Company disclaims any intent or obligation to update any
forward-looking statement, whether as a result of new information, future events or results or otherwise.
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND
IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE
SERVICES NOR FOR DISSEMINATION IN THE UNITED STATES
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https://www.newsfilecorp.com/release/240382