PJX Resources Announces Closing of Non-Brokered Private Placement
TSX VENTURE: PJX.V
OTCQB: PJXRF
PJX RESOURCES ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT
Toronto, Ontario – December 11, 202 3 – PJX Resources Inc. (“PJX” or “the Company”) is pleased to
announce the closing of the previously announ ced non-brokered private placement (the “Offering”) of
5,100,000 Flow Through Units (see December 4, 2023 press release). The Offering was oversubscribed
and closed with the issuance of 5,250,000 Flow Through Units at a price of $0.105 per Flow Through Unit
for total proceeds of $551,250.
Each Flow-through Unit consists of one common share to be issued as a "flow-through share" within the
meaning of the Income Tax Act (Canada) (the "Flow-through Shares") and one common share purchase
warrant. Each warrant, whether acquired as part of a Flow-through Unit or U nit, entitles the holder to
purchase one common share at an exercise price of $0.2 0 for 24 months following completion of the
Offering.
Subject to TSXV Exchange approval, Finders’ fees of $40,042.08 cash and 381,360 Finders’ Warrants will
be paid in relati on t o th e comp letion of the Offering. The Finders Warrants entitle the holder to
purchase one common share at an exercise price of $0.20 for 24 months following completion of the
Offering.
The securities issuable in connection with this Offering will be subject to a hold period in Canada which
will run for four months plus a day from the date of the closing of the Offering.
John Keating, President of PJX commented: “With financing in place, PJX is in a good position to discover
the source of Sullivan deposit style and grade mineralized boulders recently found by prospectors on our
Dewdney Trail Property. This is the first time that this style of mineralization , with such good grades ,
has been discovered outside the Sullivan Mine area that is located about 25 km to the west. The
boulders were found only 200 metres from a road in a mining district with power, rail, and a local
workforce. Compilation of recent mapping and prospecting data along with analyses is underway with
these results planned to be announced next month. Drilling is planned to commence in late Spring when
snow melts and a permit amendment is received.”
The Company intends to use the net proceeds of the Offering for expenditures on its properties located
in Cranbrook, British Columbia, and for general working capital. The gross proceeds from the issuance of
the Flow -through Shares shall be used to fund explora tion expendi tures o n the Cranbrook Properties
and will qualify as Canadian exploration expenses (as defined in the “Income Tax Act (Canada)”).
The Offering has received conditional approval from the TSXV Exchange.
About PJX Resources Inc.
PJX is a mineral exploration company focused on building shareholder value and community opportunity
through the exploration and development of mineral resources wit h a focus on gold, silver, and critical
metals including copper, zinc, cobalt, cadmium, indiu m, and others . PJX’s primary properties are road
accessible, close to power, rail , and located in the historical mining area of Cr anbrook and Kimberley,
British Columbia. Please refer to our web site http://www.pjxresources.com for additional information.
FOR FURTHER INFORMATION PLEASE CONTACT:
Linda Brennan, Chief Financial Officer
(416) 799-9205
Cautionary Note Regarding Forward-Looking Information
Certain statements in this news release, referred to herein as " forward-looking statements ", constitute "forward -looking statement s"
under the provisions of Canadian provinc ial securities laws. These statements can be identified by the use of wor ds such as "expected",
"may", "will" or similar terms.
Forward-looking statements are necessarily b ased upon a number of factor s and assumptions that, while considered reasonable by PJX
Resources Inc. as of the date of such statements, are inherently sub ject to significant business, economic and competitive uncertainties
and contingencies. Many factors , known and unknown, could c ause actual results to be materially different from tho se expressed or
implied by such forwa rd-looking statements. Readers are cautioned not to place undue reliance on t hese forward-looking statements,
which spea k only as of th e date made. Except as othe rwise requir ed b y law, PJX Resources Inc. expressly disclaims any o bligation or
undertaking to release publicly any updates or revisions to any such statements to reflect any change in PJX Resources Inc .’s
expectations or any change in events, conditions o r circumstances on which any such statement is based.
Cautionary Note to US Investors:
This news release may contain informati on about adjacent properties on which PJX Resources Inc. has no right to e xplore or m ine. We
advise U.S. investors that the SEC' s mining gui delines st rictly prohibit information of this type in d ocuments filed with the S EC. U.S.
investors are cautioned th at mineral deposits on adjacent properties are not indicative of mineral de posits on our properties. This news
release may contai n forward-looking statements including but not limited to comments regarding the timing and content of upco ming
work programs, g eological interpretations, receipt of prop erty titles, potential mineral r ecovery pro cesses, etc. Fo rward-looking
statements add ress future events and conditions and therefore involve inherent ri sks a nd uncertainties. Ac tual results ma y differ
materially from those currently anticipated in such st atements.
This press release may use the terms "Measured" , "Indicated", and "Inferred " resources. United States investors are advised that w hile
such te rms a re recognized and re quired by Canadian regulations, the United States Securities and Exchange Commiss ion does not
recognize them. "Inferred M ineral Resource s" have a great amount of un certainty as to their existence, and as to their economic and
legal feasibility. It cannot b e assumed that all or any part of a n Inferred Mineral Resource will ever be upgra ded to a higher category.
Under Canadian rules, estimat es of Inferred Mineral Resou rces may not form the basis of feasibility or other eco nomic studie s. United
States investors are cautioned not to assume that all or any part of Measured or Indicated Miner al Resources will ever be con verted into
Mineral Reserves. United States investors are also cautioned not to assume that all or any part of a Mineral Resource is economically or
legally mineable.
Neither the TSX Venture Exchange nor its Regu lation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of th is release.