ATEX Closes Final Tranche of Private Placement Financing
ATEX Closes Final Tranche of Private Placement Financing
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, February 21, 2020 – ATEX Resources Inc. ("ATEX")
(TSXV:ATX) is pleased to announce that it has closed the final tranche of its non-brokered
private placement financing that was announced on February 3, 2 020 (the " Private
Placement"). Today, ATEX issued 2,756,333 units (each, a " Unit") at $0.30 per Unit for
gross proceeds of $826,900. Together with the first tranche, AT EX has issued a total of
6,372,666 Units for aggregate gross proceeds of approximately $1.9 million.
Each Unit consists of one common share and one half of one comm on share purchase
warrant. Each whole warrant entitles the holder to purchase one common share at an
exercise price of $0.40 per share for a period of three years from the closing date.
In connection with the final tranche of the financing, ATEX pai d an aggregate finder's fee in
cash of $15,533.01 and issued an aggregate of 51,777 finder's w arrants, which entitle the
holders to purchase an aggregate of 51,777 Units for a period of 12 months from the closing
date at a purchase price per Unit of $0.30.
The net proceeds from the Private Placement will be used for mi neral exploration and
general working capital purposes.
All securities issued today are subject to a statutory hold per iod, equal to four months and
one day from the date of issuance, which will end on June 21, 2020.
The TSXV has conditionally approved the issuance of securities in the Private Placement
and the payment of the finder's fee, but each remains subject to their final approval.
About ATEX Resources Inc.
ATEX is a minerals exploration company focused on the acquisiti on, development and
monetization of projects throughout the Americas.
On behalf of ATEX Resources Inc.
Carl Hansen, CEO
For more information contact, email [email protected] or call (604) 684-7160.
Forward Looking Information
This new release may contain forward-looking statements. These statements are based on
current expectations and assumptions that are subject to risks and uncertainties. Actual
results could differ materially because of factors discussed in the management discussion
and analysis section of our interim and most recent annual fina ncial statement or other
reports and filings with the TSX Venture Exchange and applicabl e Canadian securities
regulations. We do not assume any obligation to update any forward-looking statements.
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 press release.