VANCOUVER, Dec. 21, 2012 /CNW/ - Pasinex Resources Limited (CNSX: PSE) (the "Company") is pleased to announce that it has completed a private
placement (the "Private Placement") of a total of 3,300,000 Units at a
price of $0.10 per share for gross proceeds of $330,000.
Each Unit is comprised of one common share and one half of a share
purchase warrant. Each whole warrant is exercisable into one common
share at an exercise price of $0.15 per share for a period of two years
The proceeds of the Private Placement will be used by the Company for
continued exploration of its mineral properties located in Turkey and
for working capital.
In connection with the completion of the Private Placement, the Company
has paid finder's fees of $9,160.00 cash 9,160 finder's warrants. Each
finder's warrant is exercisable into one common share of the Company at
a price of $0.15 per share for a period of two years from the date of
closing of the Private Placement.
Securities issued pursuant to the Private Placement are subject to a
four-month hold period expiring April 22, 2014.
Pasinex Resources Limited (CNSX: PSE) is a base and precious
metal-focused exploration company with a particular priority given to
building a strong portfolio of base metal opportunities in Turkey. The
Company has a strong technical management team with many years of
experience in mineral exploration and mining project development.
On Behalf of the Board of Directors
PASINEX RESOURCES LIMITED
The CNSX does not accept responsibility for the adequacy or accuracy of
this news release.
Statements in this document which are not purely historical are
forward-looking statements, including any statements regarding beliefs,
plans, expectations or intentions regarding the future.
Forward-looking statements in this release include statements that the
proceeds of the private placement will be used to make and explore a
significant acquisition when a suitable one becomes available.
It is important to note that actual outcomes and the Company's actual
results could differ materially from those in such forward-looking
statements. Risks and uncertainties include, but are not limited to, economic, competitive, governmental,
environmental and technological factors that may affect the Company's
operations, markets, products and prices. Factors that could cause actual results to differ materially may
include: misinterpretation of data; that we may not be able to get
equipment or labour as we need it; that we may not be able to raise
sufficient funds to complete our intended exploration and development;
that our applications to drill may be denied; that weather, logistical
problems or hazards may prevent us from exploration; that equipment may
not work as well as expected; that analysis of data may not be possible
accurately and at depth; that results which we or others have found in
any particular location are not necessarily indicative of larger areas
of our property; that we may not complete environmental programs in a
timely manner or at all; market prices may not justify commercial
production costs; and that despite encouraging data there may be no
commercially exploitable mineralization on our properties. Readers
should refer to the risk disclosures outlined in the Company's
Management Discussion and Analysis of its audited financial statements
filed with the British Columbia Securities Commission.
SOURCE: Pasinex Resources Ltd.
For further information:
please contact Steven Williams at 705 292 8116