PJX Resources Announces Extension of Private Placement
(TSX VENTURE: PJX.V)
PJX RESOURCES ANNOUNCES EXTENSION OF PRIVATE PLACEMENT
Toronto, Ontario – November 28, 2019 – PJX Resources Inc. ( “the Company”) is pleased to
announce an extension for completion of its non -brokered private placement (the “Offering”),
previously announced in its news release of October 15, 2019.
The Offering is expected to close in two tranch es with the second and final tranche expected to
close on or before December 2 0, 2019 . Closing of the Offering is subject to certain conditions
customary for financings of this kind, in cluding, but not limited to, the receipt of all necessary
approvals including approval and acceptance by the TSX Venture Exchange.
The terms of the Offering provide for the issuance of up up to ten million units through the
issuance of Flow Through ("Flow Through Unit") and Non-flow Through Units (“Unit”) at a price of
$0.17 per Flow Through Unit and $0.15 per Unit.
Each Flow-through Unit will consist of one commo n share to be issued as a "fl ow-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 U nit, will
entitle the holder to purchas e one common share at an exercise price of $0.25 for 36 months
following completion of the Offering.
The Offering, and any modifications to it, is subject to compl iance with applicable sec urities laws
and to receipt of the approval of the TSX Venture Exchange. The Company may pay finders' fees in
accordance w ith the policies of the TSX Venture Exchange. The Company reserves the right to
increase the size of the Off ering or to modify the ty pe, nature and/or price of t he units for any
reason. The securities issuable in connection with this Offering will be subj ect to a hold period in
Canada which will run for four months from the date of the closing of the Offering.
The Company inte nds to use the net proceeds of the Offering for expenditures on its properties
located in Cranbrook, Britis h Columbia and for general working capital. The gross proceeds from
the issuance of the Flow -through Shares shall be used to fund exploration expendi tures on the
Cranbrook Properties and will qualify as Canadian exploration expenses (as defined in the “Income
Tax Act (Canada)”).
About PJX Resources Inc.
PJX is a mineral exploration company focus ed on building shareholde r value a nd community
opportunity through the exploration an d development of min eral resources with a focus on go ld
and base metals. PJX’s properties a re located in the histo rical 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
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.
Forward-Looking Information
This News Release contains f orward-looking statements. F orward looking state ments are s tatements which relate to future events. Forward -looking
statements include, but ar e not limited to, statements with respect to exploration results, the success of e xploration activities, mine deve lopment
prospects, completion of ec onomic assessments, and f uture gold production. In so me cases, you can identify forwar d-looking statements by terminology
such as "may", “appears to”, "should", "ex pects", "plans", "anticipates", b elieves", "estimates", " predicts", "potential", or " continue" or the negative of
these terms or other com parable terminology. These statements ar e only predictions an d involve known and unknown risks, uncertainties and othe r
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 results 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 antic ipated, 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 should not place undue reliance on forward-looking statements.