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
CANEX METALS INC.
SUITE 815, 808-4TH AVENUE S.W., CALGARY, ALBERTA, T2P 3E8
PH: 403.233.2636 FAX: 403.266.2606
NEWS RELEASE: 19-13 OCTOBER 16, 2019
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
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 INCREASES FINANCING TO $600,000
Calgary, Alberta - CANEX Metals Inc. (“CANEX” or the “Company” ) has increased its previously
announced non -brokered private placement and will now offer up to 12,000,000 shares (“Common
Shares”) at a price of $0.05 per Common Share for gross proceeds of up to $600,000.
The shares will be offered on 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 plus one day from the date of
closing. This financing is subject to TSX Venture Exchange and regulatory approval. Proceeds of th e
financing will be used to explore the Gold Range Property , evaluate additional exploration
opportunities, and for general working capital.
About CANEX Metals Inc.
CANEX Metals is a Canadian based exploration company focused on acquiring and advancing hi gh
grade gold and silver deposits in stable mining jurisdictions. Company Management has a proven
track record of exploration success, with key personnel being involved in discoveries in Mexico,
Newfoundland, and British Columbia. The Gold Range Property in Northern Arizona is the Company’s
main exploration focus and occurs within an area that has seen historic lode and placer gold production
but limited modern lode gold exploration . Fieldwork by CANEX has identified multiple gold exploration
targets, including the Adit Shear Zone which has been traced for 1 km along strike and has returned
chip sample results of 8.47 g/t gold over 5.6 metres, including 28.1 g/t gold over 1 metre. CANEX has
recently announced a trenching and surface exploration program a t Gold Range will commence
shortly.Please 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 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 release.
Except for the historical and present factual information contained herein, the matters set forth in this news release, inclu ding words such as
“expects”, “projects”, “plans”, “anticipates” and similar expressions, ar e forward-looking information that represents 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 pr ojections, 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 pr ojections of future performance or results 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 investors 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.