Apex Resources Inc. Announces Cease Trade Order
APEX RESOURCES INC.
Suite 500 – 666 Burrard Street
Vancouver, B.C. V6C 2X8
www.apxresources.com
November 23, 2020 TSX Venture Exchange Symbol: APX
Apex Resources Inc. Announces Cease Trade Order
November 23, 2020, Vancouver, BC., Apex Resources Inc. (“Apex”) (TSXV: APX) was issued
a Cease Trade Order (the “Cease Trade Order”) by the British Co lumbia Securities Commission
(the “Commission”) on November 19, 2020 related to the Commissi on’s technical disclosure
review previously announced in the Company’s news release dated December 13, 2019.
In its technical disclosure review, the Commission identified t wo material deficiencies related to
2013 and 2016 filings that lead to the Company being placed on the Commission's “Issuers in
Default” list. Resource estimates prepared by the Company’s joi nt venture partners for the East
Emerald tungsten deposit on the Company’s Jersey-Emerald property (the “Jersey-Emerald
Property”) and for the Kena and Gold Mo untain zones on the Company’s Kena-Daylight
property (the “Kena-Daylight Property”) had not been independently verified by the Company.
In February, 2020, the Company engaged Renaissance Geoscience S ervices Inc. of Kamloops,
BC (“Renaissance”) to prepare updated resource estimates for th e Jersey-Emerald Property and
the Kena-Daylight Property. The program involving site visits, drill core inspections and core
sampling by Renaissance commence d in March, 2020 and final repo rts were submitted to the
Commission in October, 2020.
The Commission notified the Company on November 19, 2020 that t he reports submitted in
October, 2020 are unacceptable an d that the Company will be sub ject to the Cease Trade Order
until: (1) the Company files a technical report to support the Compa ny's earlier disclosure made
in its May 26, 2016 Management Discussion and Analysis related to the Jersey-Emerald Property
and in its January 22, 2018 news release related to the Kena-Da ylight Property; and (2) the
Executive Director of the Commission has revoked the Cease Trade Order.
The Company is presently reviewing all options to correct this situation as quickly as possible.
Once the required disclosure has been filed, the Company will s eek to have the Cease Trade
Order revoked. The Company will provide updates as and when warranted.
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: [email protected] or [email protected]
This release was prepared by Apex's management. Neither TSX Venture Exchange nor its Regulation
Services Provider (as the term is defined in the policies of th e TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this relea se. This news release includes certain statements
that may be deemed "forward-looking statements." All statements in this release, other than statements of
historical facts, that address future production, reserve potential, exploration drilling, exploitation
activities and events or developments that Apex expect s are forward-looking statements. Although Apex
believes the expectations expressed in such forward-looking st atements are based on reasonable
assumptions, such statements are not guarantee s of future performance and actual results or
developments may differ materially from those in the forward-looking statements. Factors that could
cause actual results to differ materially from those in forward-looking statements include market prices,
exploitation and exploration successes, and continued ava ilability of capital and financing, and general
economic, market or business conditions. Investors are cautioned that any such statements are not
guarantees of future performance and those actual results or developments may differ materially from
those projected in the forward-looking statemen ts. For more information on Apex, investors should
review Apex's filings that are available at www.sedar.com or Apex's website at www.apxresources.com.