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VANCOUVER, Jan. 24, 2014 /CNW/ - Pasinex Resources Ltd. (CSE: PSE) (FSE:
PNX) (the "Company" or "Pasinex") is pleased to announce a non-brokered
private placement (the "Private Placement") of up to 3,571,429 units (the "Units") at a subscription price of $0.07 per Unit to eligible subscribers for gross proceeds of up to $250,000.
Each Unit will consist of one common share and one half of a share
purchase warrant (the "Warrant"). Each whole Warrant will be
exercisable into one additional common share (the "Warrant Share") of
the Company at $0.12 per Warrant Share for a period of three years from the closing.
Finder's fees or commissions may be payable by the Company in connection
with this private placement.
The common shares issued or issuable pursuant to the Private Placement
will be restricted from trading for a four month hold period in
accordance with applicable securities laws and, if required, the
policies of the Exchange.
The proceeds of this private placement are for the Company's general and
administrative expenses as well as for ongoing exploration activity in
Turkey with specific focus given to the Golcuk Copper-Silver project in
Sivas Province and the Horzum Zinc-Lead project in Adana Province.
Pasinex Resources Ltd. (CNSX: PSE) (FSE: PNX) is a base and precious
metal focused exploration company with priority given to building a
strong portfolio of base metal exploration opportunities in Turkey.
Pasinex's key projects are the Golcuk Copper-Silver Project located in
Sivas, Turkey, and the Joint Venture, Horzum Zinc-Lead Project with
Akmetal Group in Adana, Turkey. The company is led by an experienced
team with many years of experience in both in the mining and mineral
exploration industries around the world.
On Behalf of the Board of Directors
PASINEX RESOURCES LTD.
The CNSX does not accept responsibility for the adequacy or accuracy of
this news release.
This news release includes forward-looking statements that are subject
to risks and uncertainties. Forward-looking statements involve known
and unknown risks, uncertainties, and other factors that could cause
the actual results of the Company to be materially different from the
historical results or from any future results expressed or implied by
such forward-looking statements.
All statements within, other than statements of historical fact, are to
be considered forward looking. Although Pasinex Resources Ltd. believes
the expectations expressed in such forward-looking statements are based
on reasonable assumptions, including the ability to raise $250,000,
such statements are not guarantees of future performance and actual
results or developments may differ materially from those in
forward-looking statements. Factors that could cause actual results to
differ materially from those in forward-looking statements include
market prices, continued availability of capital and financing,
exploration results, and general economic, market or business
conditions. There can be no assurances that such statements will prove
accurate and, therefore, readers are advised to rely on their own
evaluation of such uncertainties. We do not assume any obligation to
update any forward-looking statements.
SOURCE: Pasinex Resources Ltd.
For further information:
Phone: 705 292 8116