VANCOUVER, July 5, 2013 /CNW/ - Pasinex Resources Limited (CNSX : PSE) (FSE: PNX) is pleased to announce that it has completed a non-brokered private placement to raise gross proceeds of $311,800 by the issuance of 3,897,500 Units at $0.08 per Unit. Each Unit consists of one common share and one half of a warrant, each whole warrant entitling the holder to acquire an additional common share at $0.16 per share for a period of two years. The Company paid a finder's fee of $9,344 cash and issued 58,400 half Broker Warrants containing the same terms and conditions as the private placement warrants.
The shares, and any shares issued on exercise of the warrants, are subject to a four month hold period expiring November 3, 2013.
The proceeds of this financing will be applied to general working capital.
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, 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.
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