Canex Metals Closes Final Tranche of Financing
CANEX METALS INC.
SUITE 815, 808-4TH AVENUE S.W., CALGARY, ALBERTA, T2P 3E8
PH: 403.233.2636 FAX: 403.266.2606
NEWS RELEASE: 21-02 JANUARY 11, 2021
Trading Symbol: TSX Venture-CANX
For Further Information Contact: Shane Ebert at 1.250.964.2699 or
Web: http://www.canexmetals.ca
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY
FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.
CANEX METALS CLOSES FINAL TRANCHE OF FINANCING
Calgary, Alberta - CANEX Metals Inc. (“CANEX” or the “Company”) is pleased to announce that it has
closed its final tranche of its previously announced non-brokered private placement for 707,500 shares
(“Common Shares”) at a price of $0.10 per Common Share for gross proceeds of $70,750.
Canex closed its first tranche for 16,292,500 Common Shares or $1,629,250 and has issued a total of
17,000,000 shares for gross proceeds of $1,700,000 under this private placement.
The 707,750 shares were offered on a non -brokered basis by way of private placement to accredited
investors and the securities issued are subject to a hold period of four months plus one day or May 12,
2021. No finders fees were payable in connection with the final tranche of the private placement.
About the Gold Range Property
The Gold Range Property is located in Northern Arizona within an underexplored belt containing historic lode and
placer gold production. CANEX has identified widespread gold mineralization within a 3 kilometre by 5 kilometre
area including two gold-in-soil anomalies that are up to a kilometre in scale.
Drilling in August and September of this year identified near surface bulk tonnage gold potential at the Eldorado
Zone with Hole GR20- 9 returning 0.9 g/t gold over 27.3 metres including 5.9 g/t gold over 1.5 metres. Hole
GR20-8 drilled from the same pad as GR20- 9 returned 0.5 g/t gold over 24.4 metres starting from surface. The
new discovery correlates with a strong gold in soil anomaly and sheeted quartz veinlets and stockworks within
metamorphic rocks.
The Company remains focused on confirming and expanding the new discovery through continued exploration
and drilling. Pl ease visit our website at www.canexmetals.ca for additionnel information. Dr. Shane Ebert
P.Geo., is the Qualified Person 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 services provider (as that term is defined in the policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this releas e.
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 forward-looking information that r epresents management of CANEX
Metals Inc. internal projections, expectations or beliefs concerning, among other things, future operating results and various components
thereof or the economic performance of CANEX. The projections, estimates and beliefs contained in such forward- looking statements
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 projections of future performance or r esults expressed or implied by such forward- looking statements.
These risks and uncertainties include, among other things, those described in CANEX’s filings with the Canadian securities authorities.
Accordingly, holders of CANEX shares and potential inves tors are cautioned that events or circumstances could cause results to differ
materially from those predicted. CANEX disclaims any responsibility to update these forward-looking statements.