• Platinex (CSE:PTX) issues 700,000 units with C$21,000 in gross proceeds
  • Raised funds will go to existing operations and general corporate and administrative purposes
  • Units consists of one common share and one warrant
  • PTX shares were down 16.67% and traded at C$0.03 per share.

Gold miner Platinex has completed a second interim closing of a non-brokered private placement, raising a gross proceed of C$21,000 and issuing 700,000 units.

This comes as an addition to a previously closed non-brokered private placement – closed on August 26, 2019 – of C$100,000, totalling the placement amount to C$121,000.

Each unit is made up of one common share in the company and one warrant.

The latter entitles the holder the ability to acquire one additional common share at an exercise price of C$0.075 for a period of 24 months from the issuing date.

No finders fees were paid in the private placement and securities issued will be subject to a four month plus one day period from the issuing date.

The placement’s closing is subject to applicable securities regulations.

Platinex will use the raised funds to preserve the company’s existing operations at the Shining Tree gold camp in Canada’s northeast and for general corporate and administrative purposes.

Platinex shares were down 16.67% and traded at C$0.03 per share.

More From The Market Herald

Small-cap mining stock extends profitable track record

Major Drilling Group International, a small-cap mining stock, has extended its profitable streak to three-and-a-half years.

Grid Battery completes Phase 1 exploration at Texas Springs

Grid Battery Metals (TSXV:CELL) has completed geophysics results from the first phase of its Texas Springs property fall exploration program.