PPX Subscribes Binding Commitment FOR US$ 6 Million Debt Facility
NEWS RELEASE; TSX.V PPX; BVL PPX
PPX SUBSCRIBES BINDING COMMITMENT FOR US$ 6 MILLION DEBT
FACILITY
Toronto – September 20, 2023 – PPX Mining Corp. (together with its Peruvian subsidiaries - the
“ Company ” or “ PPX ”) is pleased to announces that yesterday, the Board of Directors of the Company passed
a resolution authorizing management to subscribe to a binding term sheet for a US$ 6,000,000 debt faci lity
received on September 15, 2023 from a shareholder a nd Control Person of the Company, as defined in the
policies of the Exchange, to fund most of the capit al cost of the CIL and flotation plant that the Com pany
intends to build to process the oxides and sulfides currently mined from its high grade Callanquitas M ine,
located in La Libertad, Peru.
The key terms of this financing are as follows:
• US$ 6,000,000 total debt facility to be disbursed in 4 tranches.
• 11.75% annual interest rate.
• 1.5 years grace period, paying only interest, to cover the construction and commissioning periods.
• 3 years principal amortization period, following the grace period.
• The facility will be administered through a trust s tructure that will guarantee the repayment of the
loan obligations. In addition, other trusts will be established to ensure the construction funding flow
and to protect the surface rights and shares of the Peruvian subsidiary holding the construction and
processing permits.
• Total and partial prepayments are authorized with no penalties.
• Certain conditions precedent are applicable to this transaction, including TSXV approval.
• A 3% finder’s fee payable in shares of PPX Mining Corp. is applicable to this transaction.
Brian Imrie, Executive Chairman commented “we are d elighted to subscribe to this binding commitment
with our major shareholder. This funding will allow us to start building the planned processing plant as soon
as the amendment of our current construction permit is received, which in addition to the exceptional terms
of the financing, it provides a strong vote of confidence in the Company’s Igor Project”.
About PPX Mining Corp:
PPX Mining Corp. (TSX.V: PPX.V, BVL: PPX) is a Canadian-based mining company with assets in northern
Peru. Igor, the Company’s 100%-owned flagship gold and silver project, is located in the prolific Nort hern
Peru gold belt in eastern La Libertad Department.
On behalf of the Board of Directors
Brian Imrie
Executive Chairman
82 Richmond Street East
Toronto, Ontario M5C 1P1
Canada
416-361-0737
Neither TSX Venture Exchange nor its Regulation Ser vices Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts respo nsibility for the adequacy or accuracy of this
release.
Cautionary Statement:
This press release contains forward-looking informa tion and forward-looking statements (collectively,
“ forward-looking statements ”) as such terms are defined by applicable securities laws, including, but not
limited to statements regarding future financing and plans and / or management estimates. Forward-looking
statements are statements that relate to future eve nts. In this context, forward-looking statements of ten
address expected future business plans and financia l performance and often contain words such as
“anticipate,” “believe,” “plan,” “estimate,” “expec t,” and “intend,”, statements that an action or eve nt
“may,” “might,” “could,” “should,” or “will” be tak en or occur, or other similar expressions. Forward-
looking statements are subject to a number of known and unknown risks and uncertainties, many of which
involve factors or circumstances that are beyond the Company’s control, and the Company’s actual resul ts
could differ materially from those stated or implie d in forward-looking statements due to many various
factors. Such uncertainties and risks include, amon g others, delays in obtaining or inability to obtai n any
required regulatory approvals, if applicable. Although the Company believes that the expectations reflected
in the forward-looking statements are reasonable, t he Company cannot guarantee that the events and
circumstances reflected in the forward-looking statements will be achieved or occur. The timing of events
and circumstances and actual results could differ m aterially from those projected in the forward-looki ng
statements. Accordingly, one should not place undue reliance on forward- looking statements. All forward-
looking statements contained in this press release are made as of today’s date, and the Company undertakes
no obligation to update or publicly revise any forw ard-looking statements, whether as a result of new
information, future events or otherwise, unless required by law.