Platinex Announces Warrant Extension and Grant of Stock Options
TORONTO, Nov. 01, 2019 (GLOBE NEWSWIRE) -- Platinex Inc. (CSE:PTX) (“Platinex” or the “Company”) announces that it has determined to extend the expiry dates of an aggregate of 12,000,000 common share purchase warrants (the “Warrants”) issued pursuant to private placement offerings of the Company completed on November 15, 2017 and November 30, 2017. Each Warrant entitles the holder to purchase one common share of the Company at an exercise price of $0.15.
Warrant Extension
The Company has determined to extend the original expiry dates of the Warrants such that they will now expire twenty-four months from the original expiry date, as set out in the table below:
| Issue Date | Exercise Price | Original Expiry Date | New Expiry Date | Original No. of Warrants Issued | |
| 15-Nov-17 | $0.15 | 15-Nov-2019 | 15-Nov-2021 | 8,550,000 | |
| 30-Nov-17 | $0.15 | 30-Nov-2019 | 30-Nov-2021 | 3,450,000 | |
The exercise price and all other terms of the Warrants remain unchanged. No Warrants have been exercised and 13.5% of the Warrants are held by insiders of the Company. A Notice of Extension of Expiry Date will be sent to all Warrant holders.
Options
The Company also wishes to announce that it has granted an aggregate of 1,000,000 stock options under its stock option to certain officers and directors of the Company. The options are exercisable at a price of $0.05 per share for a term of 5 years.
About Platinex Inc.
Platinex has been focusing its efforts in assembling a very large property in the Shining Tree gold camp, which has received little modern exploration compared to other gold camps in the Abitibi greenstone Belt. Shares of Platinex are listed for trading on the Canadian Securities Exchange under the symbol "PTX".
For further information, please contact:
Lori Paradis
Tel: (416) 268-2682
Email: lparadis@platinex.com
Email: To receive Company press releases, please email lparadis@platinex.com and mention “Platinex press release” on the subject line.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
