PJX Resources Closes First Tranche of Private Placement

PJX Resources Inc. announced the successful close of the first tranche of its private placement, a step expected to generate gross proceeds of up to $6.3 million. The completion involved issuing 3,866,666 Flow Through Units and 22,736,320 Units, yielding $3,422,040. This financing move forms part of a broader strategy to support exploration in British Columbia.

The private placement is non-brokered, and the subscription prices are set at $0.125 per Unit, $0.15 per Flow Through Unit, and up to $0.18 for Charity Flow-through Critical Metals Units. Finders' fees are involved, including $90,300 in cash and warrants for 690,666 shares exercisable at $0.20 each. The second tranche is projected to close by mid-July.

The raised funds are earmarked for exploration endeavors on properties in Cranbrook, British Columbia, potentially aligning with "flow-through mining expenditures" under the Canadian Income Tax Act by the year's end. Upcoming projects will target Sedex and RIRGS mineralization types, promising robust regional growth potential.