PTX Metals Inc. Announces Second Closing of Private Placement

Core Points - PTX Metals Inc. has successfully closed the second tranche of its non-brokered private placement, raising a total of $1,246,213 from the issuance of flow-through units and hard dollar units [1][2][3] - The total amount raised to date from both closings is $4,498,930, with the first closing contributing $3,252,716.70 [1] - The proceeds from the hard dollar units will be used for general corporate expenses and working capital, while the flow-through units' proceeds will fund eligible Canadian exploration expenses related to the company's projects in Ontario [5][6] Financial Details - The second closing involved the issuance of 7,023,805 flow-through units at $0.135 each, generating gross proceeds of $948,213.68, and 2,920,000 hard dollar units for $298,000 [1] - Each flow-through unit and hard dollar unit consists of one common share and half a share purchase warrant, with warrants exercisable at $0.16 for 36 months [4] - The company paid $25,779.08 in finders fees and issued 192,771 finder warrants, allowing the purchase of common shares at $0.14 for two years [3] Regulatory Compliance - The hard dollar units were issued under the Listed Issuer Financing Exemption, which allows the underlying securities to be free from a hold period under Canadian securities laws [2] - The flow-through units are subject to a hold period of four months and one day following issuance [2] - An amended and restated offering document has been filed on SEDAR+ to comply with the LIFE Exemption requirements [7] Company Overview - PTX Metals Inc. focuses on high-quality strategic metals assets in northern Ontario, including copper, gold, nickel, and PGEs [8] - The company aims to advance its flagship projects, the W2 Cu-Ni-PGE and the Shining Tree Gold Project, which are located in mineral-rich regions [9] - PTX is based in Toronto, Canada, and is also listed in Frankfurt and on the OTCQB in the United States [10]