Including the exercise in full of the Agents' option at closing, a total of 20,013,261 units were issued (the 'Units') at a price of
'We are greatly encouraged by the strong support from new and existing shareholders, reinforcing our belief in the significant potential of the
ATEX intends to use the proceeds from the Offering to advance the
All securities issued today, including the Common Shares issuable on exercise of the Warrants or the Broker Warrants, are subject to a statutory hold period of four months and one day from the date of issuance. The hold period ends on
Insiders subscribed for 1,533,355 Units in the Offering. The private placement of Units to insiders is exempt from the formal valuation and minority approval requirements of Multilateral Instrument 61-101 -Protection of Minority Security Holders in Special Transactions ('MI 61-101') and TSXV Policy 5.9 by the application of sections 5.5(a) and (b) and 5.7(1)(a) of MI 61-101 because the Common Shares trade on the TSXV and insider participation was less than 25% of the Company's market capitalization as calculated for purposes of MI 61-101.
The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the '
About
ATEX is a mineral exploration company focused on the acquisition, development and monetization of projects throughout the
Contact:
Email: rjannas@atexresources.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to: the use of proceeds from the offering, plans for the evaluation of exploration properties including the
Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. These factors include, among others: changes in economic parameters and assumptions; all aspects related to the timing of exploration activities and receipt of exploration results; the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; the results of regulatory and permitting processes; future metals price; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; labour disputes and other risks of the mining industry; the results of economic and 5 technical studies; delays in obtaining governmental approvals or financing or in the completion of exploration; as well as those factors disclosed in ATEX's publicly filed documents.
Although ATEX has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
These forward-looking statements are made as of the date of this press release, and ATEX assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
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