Shares for Debt Transactions
PPX MINING CORP | 82 Richmond Street East, M5C 1P1, Toronto, Ontario, Canada | +1416-361-0737 | www.ppxmining.com
NEWS RELEASE TSX.V PPX; BVL PPX
Shares for Debt Transactions
Toronto, Ontario – November 08, 2022 – PPX Mining C orp. (the “ Company ” or “ PPX ”) announces
that it has entered into binding commitments with certain arm’s length and non-arm’s length creditors of
the Company to settle US$2,194,017 of outstanding debt (the “ Debt Settlement ”) through the issuance
of common shares of the Company (“ Common Shares ”). Recognizing the need to preserve capital and
improve the Company’s working capital, the Company has agreed issue an aggregate of 108,700,842
Common Shares at a deemed issue price of C$0.0273 (US$0.02) per Common Share pursuant to the Debt
Settlement, representing a 36.5% premium to today’s closing price.
The Debt Settlement is subject to the approval of t he TSX Venture Exchange (the “ Exchange ”) and
execution of definitive debt settlement agreements. All Common Shares to be issued will be subject to a
hold period expiring on the date that is four months and one day after the date of issuance, in accordance
with applicable securities laws and the policies of the Exchange.
Post-transaction, one of the creditors under the De bt Settlement, will own approximately 33.5% of the
Common Shares and will therefore be a Control Person of the Company as defined in the policies of the
Exchange. Consequently, the issuance of Common Sha res to this creditor is subject to disinterested
shareholder approval.
The participation of certain creditors in the Debt Settlement constitutes “related party transactions” under
Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“ MI
61-101 ”). The Company is relying upon exemptions from the formal valuation and minority shareholder
approval under MI 61-101 in respect of the particip ation of these creditors in the Debt Settlement, in
reliance on Sections 5.5(g) and 5.7(1)(e) of MI 61-101, respectively, as the Company considers to meet
its requirements as set out in MI 61-101. The direc tors of the Company approved the Debt Settlement,
with interested directors declaring their interest and abstaining from voting on the consent resolutio ns.
No materially contrary view or abstention was expre ssed or made by any director of the Company in
relation thereto.
About PPX Mining Corp:
PPX Mining Corp. (TSX.V: PPX.V, BVL: PPX) is a Cana dian-based mining company with assets in
northern Peru. Igor, the Company’s 100%-owned flags hip gold and silver project, is located in the
prolific Northern Peru gold belt in eastern La Libertad Department.
On behalf of the Board of Directors
Brian Imrie
Executive Chairman
82 Richmond Street East, Toronto,
M5C 1P1, Ontario, Canada
416-361-0737
Neither 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.
PPX MINING CORP | 82 Richmond Street East, M5C 1P1, Toronto, Ontario, Canada | +1416-361-0737 | www.ppxmining.com
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 securiti es laws, including, but
not limited to statements regarding the completion of the Debt Settlement, the anticipated effect on t he
securities of the Company held by the creditors, shareholder approval and regulatory approval of the
Debt Settlement. Forward-looking statements are statements that relate to future events. In this context,
forward-looking statements often address expected future business and financial performance and often
contain words such as “anticipate,” “believe,” “pla n,” “estimate,” “expect,” and “intend,”, statements
that an action or event “may,” “might,” “could,” “s hould,” or “will” be taken or occur, or other simil ar
expressions. Forward-looking statements are subject to a number of known and unknown risks and
uncertainties, many of which involve factors or cir cumstances that are beyond the Company’s control,
and the Company’s actual results could differ materially from those stated or implied in forward-looking
statements due to many various factors. Such uncert ainties and risks include, among others, delays in
obtaining or inability to obtain required regulator y and shareholder approvals in connection with the
Debt Settlement. Although the Company believes that the expectations reflected in the forward-looking
statements are reasonable, the 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 materially from those p rojected in the forward-looking 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 forward -looking statements, whether as a result of new
information, future events or otherwise, unless required by law.