Canex Increases Equity Financing to $1,000,000
CANEX METALS INC.
SUITE 815, 808-4TH AVENUE S.W., CALGARY, ALBERTA, T2P 3E8
PH: 403.233.2636 FAX: 403.266.2606
NEWS RELEASE: 20-9 FEBRUARY 27, 2020
Trading Symbol: TSX Venture-CANX
For Further Information Contact: Shane Ebert at 1.250.964.2699 or
Jean Pierre Jutras at 1.403.233.2636
Web: http://www.canexmetals.ca
CANEX INCREASES EQUITY FINANCING TO $1,000,000
Calgary, Alberta - CANEX Metals Inc. ( “CANEX” or the “Company” ) is pleased to announce that due to strong
shareholder demand the Company has increased its previously announced non -brokered private placement and
will now offer up to 5,000,000 shares (“Common Shares” ) a t a price of $0. 20 per Com mon Share for gross
proceeds of up to $1,000,000.
The shares will be offered o n a non-brokered basis by way of private placement to accredited investors and any
securities issued will be subject to a hold period of four months pl us one day from the date o f closing. This
financing is subject to TSX Venture Exchange and regulatory app roval. Proceeds of the financing will be used to
drill test and further explore the Gold Range Property, to evaluate additional exploration opportunities, and for
general working capital. No commissions have been paid on the financing.
In addition, over the past few weeks , 2.9 million warrant s priced at 8 cents have been exercised bringing in an
additional $232,000. These warrants were exercised over 2 years prior to their expiry by shareholders who
strongly support the Company and were used to seed new shareholders.
Dr. Shane Ebert , President of the Company stated, “The proceeds from this f inancing combined wit h the early
exercise of warrants puts the Company in an excellent financial position to advance and expedite opportunities at
Gold Range. We look for ward to commencing field activities shortly to confirm and finalize our upcoming drill
program.”
About the Gold Range Property
The Gold Range Property is located in Northern Arizona within a n area that has seen historic lode and placer
gold production but limited systematic modern lode gold exploration. Fieldwork by the Company has identified
numerous g old exploration targets on the property with grab samples from o utcropping quartz veins returning
multiple values in the 20 to 40 g/t gold r ange, and chip sampling returning values of 31.7 g/t gold over 1 metre,
24.3 g/t gold over 1.5 metres, 28.1 g/t gold over 1 metre, 17.2 g/t over 1.1 metre s, and 8.47 g/t gold over 5.6
metres. Please visit our website at www.canexmetals.ca for additionnel information.
Dr. Shane Ebert P.G eo., is the Qualified Pers on for CANEX Metals and has approved the technical disclosure
contained in this news release.
“Shane Ebert”
Shane Ebert, President/Director
Neither the TSX Venture E xchange nor its regulation s ervices provider (as that term is defined in the policies o f
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as
“expects”, “projects”, “plans”, “anticipates” and similar expressions, are forwar d-looking information that represents management of CANEX
Metals Inc. internal projections, expectations or b eliefs concerning, amo ng o ther things, fut ure operating results and various compo nents
thereof o r the econ omic performance of CANEX. The projection s, estimates and bel iefs contained in such f orward-looking statem ents
necessarily involve known and unknown risks and uncertainties, which may cause CANEX’s actual performance and financial results in future
periods to differ materially from any projection s of future p erformance or results ex pressed or implied by such f orward-looking statements.
These risks and u ncertainties include, among other things, those describ ed in CANEX’s filings with the Canadian s ecurities authorities.
Accordingly, holders of CANEX shares and potential investors are cautioned t hat events or cir cumstances could cause r esults to differ
materially from those predicted. CANEX disclaims any responsibility to update these forward-looking statements.