PPX Announces Appointment of CFO and Corporate Secretary, Director Resignation and Private Placement
September 3, 2019
Vancouver, British Columbia – September 3, 2019 – PPX Mining Corp. (the “Company” or “PPX”) is pleased to announce the appointment of Natasha Tsai, CPA, CA as its Chief Financial Officer and Corporate Secretary effective as of July 2, 2019. Natasha is a Managing Director of Malaspina Consultants Inc., an outsourced CFO, operational accounting and consulting firm based in Vancouver, British Columbia. Natasha is a graduate of the Sauder School of Business at UBC and received her Chartered Accountant designation in 2007.
The Company wishes to thank its former Chief Financial Officer and Corporate Secretary, Meri Verli, for her contributions to the Company.
The Company also announces the resignation of Felix Navarro-Grau Hurtado from its Board of Directors effective as of August 19, 2019. The Company wishes to thank Mr. Navarro-Grau Hurtado for his contributions to the Company.
The Company is pleased to announce a non-brokered private placement offering of up to 1,371,999 units at a price of $0.075 per unit to raise gross proceeds of up to CDN$102,899.93.
Each unit will consist of one common share of the Company and one half of a common share purchase warrant. Each whole warrant will entitle the holder, on exercise thereof, to purchase one additional share at a price of $0.10 for a period of 24 months from the completion of the private placement.
Under the Private Placement, the Company intends to pay finders’ fees to eligible finders equivalent to 8% of the number of units subscribed for by subscribers introduced to the Company by the finders.
The private placement is subject to all necessary regulatory approvals including acceptance from the TSX Venture Exchange. All securities issued in connection with the private placement will be subject to a four-month hold period from the closing date under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada. Certain insiders of the Company may acquire units under the private placement. The Company intends to use the proceeds from the private placement for general working capital purposes.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.
On behalf of the Board of Directors
Brian J. Maher
President and Chief Executive Officer
Neither the 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.
Certain disclosure in this release, may constitute “forward-looking statements” within the meaning of Canadian securities legislation. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that the Company believes are reasonable. However, the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such uncertainties and risks are described from time to time in the Company’s filings with the appropriate securities commissions, and may include, among others, market conditions and delays in obtaining or failure to obtain required regulatory approvals or financing. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.