PJX Announces $2.7 Million Non-Brokered Private Placement
(TSX VENTURE: PJX.V)
PJX ANNOUNCES $2.7 MILLION NON-BROKERED PRIVATE PLACEMENT
Toronto, Ontario – May 1, 2018 – PJX Resources Inc. (“PJX” or “the Company”) is pleased to announce a
non-brokered private placement through the issuance of Flow -through ("Flow-through Unit") and Units
(“Unit”) at a price of $0.17 per Flow -through Unit and $0.1 7 per Unit for gross proceeds of $ 2,700,000
(the "Offering").
Each Flow-through Unit will consist of one commo n 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 Unit will consist of one common share and one common share purchase
warrant. Each warrant, whether acquired as part of a Flow-through Unit or Unit, will entitle the holder
to purchase one common share at an exercise price of $0.25 for 24 months following completion of the
Offering.
The Offering, and any modifications to it, is subject to compliance with applicable securities laws and to
receipt of the approval of the TSX Venture Exchange. The Company may pay finders' fees in accordance
with the policies of the TSX Venture Exchange. The Company reserves the right to increase the size of
the Offering or to modify t he type, nature and/or price of the units for any reason. The securities
issuable in connection with this Offering will be subject to a hold period in Canada which will run for four
months from the date of the closing of the Offering.
The Offering is expected to close on or before May 17, 2018. Closing of the Offering is subject to certain
conditions customary for financings of this kind, including, but not limited to, the receipt of all necessary
approvals including approval and acceptance by the TSX Venture Exchange.
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 exploration expenditures on the Cranbrook Properties
and will qualify as Canadian exploration expenses (as defined in the “Income Tax Act (Canada)”).
PJX owns the mineral rights to a large land package in the historical Sullivan mining district near
Cranbrook, British Columbia. Exploration has identified gold, silver, zinc-lead, and copper targets to test
with the potential to make multiple discoveries. The targets occur within one of the largest structural
breaks in North America.
PJX plans to drill and explore for Sullivan type or Broken Hill type zinc -lead-silver mineralization on the
Vine Property and gold targets on the Zinger, Dewdney Trail, Eddy and Gold Shear Properties. The
properties are all road accessible and close to rail, power and an experienced workforce.
PJX has granted Teck Resources Limited (“Teck”) an option to earn up to a 75% interest in the DD
Property. Teck is assessing a geophysical Magnetotelluric (MT) target for drilling and is in the process of
applying for the relevant permits. (see April 24, 2018 press release for more details.)
The foregoing geological disclosure has been reviewed by John Keating P.Geo. (a qualified person for the
purpose of National Instrument 43-101 Standards of Disclosure for Mineral Pro jects). Mr. Keating is the
President, Chief Executive Officer and a Director of PJX.
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. PJX’s primary properties are located in
the historical mining area of Cranbrook 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
Forward-Looking Information
This News Release contains forward -looking statements. Forward looking statements are statements which relate to future
events. Forward-looking statements include, but are not limited to, statements with respect to exploration results, the success
of exploration activities, mine development prospects, completi on of economic assessments, and future gold production. In
some cases, you can identify forward -looking statements by terminology such as "may", "should", "expects", "plans",
"anticipates", believes", "estimates", "predicts", "potential", or "continue" or the negative of these terms or other comparable
terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that
may cause our actual results, level of activity, performance or achievements to be materially different from any future results,
levels of activity, performance, or achievements expressed or implied by these forward-looking-statements.
Although PJX has attempted to identify important factors that could cause actual actions, events or r esults to differ materially
from those described in forward- looking statements, there may be other factors that cause actions, events or results not to be
as anticipated, estimated or intended. There can be no assurance that forward- looking statements will prove to be accurate, as
actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers shou ld
not place undue reliance on forward-looking statements.
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.