BRIEF

on PJX Resources Inc. (isin : CA72585A1093)

PJX Resources Inc. Announces $3.6 Million Non-Brokered Private Placement

PJX Resources Inc., based in Toronto, has launched a non-brokered private placement aiming to raise $3.6 million by issuing up to 13,486,111 units. These units are divided into three types: Flow Through Units priced at $0.36, Strategic Units at $0.225, and Non-Strategic Units at $0.20. The private placement has completed the issue of Flow Through and Strategic Units, with a remaining focus on Non-Strategic Units.

Each unit type offers different benefits. Flow Through Units include one common share and a half-warrant with an exercise option at $0.45. Strategic and Non-Strategic Units comprise one common share and a half-warrant, with exercise prices of $0.45 and $0.40 respectively. The strategic investor in this initiative now holds between 6.39% to 9.23% of PJX’s shares and has pre-emptive rights to maintain this ownership stake.

Directors Linda Brennan and James Clare participated in the placement, subscribing for Non-Strategic Units deemed as related party transactions under regulation TSXV Policy 5.9 and Multilateral Instrument 61-101. PJX intends to utilize the proceeds for developing its assets in Cranbrook, British Columbia and plans to incur Canadian exploration expenses with funds from the Flow Through Units by the end of 2025 to qualify for tax incentives.

R. P.

Copyright © 2024 FinanzWire, all reproduction and representation rights reserved. Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.

Click here to consult the press release on which this article is based

See all PJX Resources Inc. news