PPX Mining Corp Completes $1.35 Million Private Placement

PPX Mining Corp announced the completion of a non-brokered private placement, initially disclosed on March 20, 2024, achieving aggregate gross proceeds of $1.35 million. This fully-subscribed offering issued 30 million units at $0.045 each. Each unit comprises one common share and one share purchase warrant, with the warrant allowing acquisition of an additional share at $0.07 until April 18, 2026. The funds are purposed for further exploration of the Igor project and general working capital.

Additionally, the offering involved finder's fees paid through 1,189,351 units to third-party finders. The securities under this placement are subject to a hold period until August 19, 2024, per Canadian securities laws and are pending final approval by the TSX Venture Exchange. Notably, Executive Chairman Brian Imrie participated in the offering, subscribing for 2 million units, which was a related party transaction under Multilateral Instrument 61-101 but did not materially affect his share of ownership.