PJX Resources Inc. | TSX-V: PJX

TSX-V: PJX

Building Resource Opportunity

PJX Resources Has Acquired 100% Interest In Vine Extension Property

February 27, 2014adminNewsComments Off

Toronto, Ontario – February, 27 2014 – PJX Resources Inc. (“PJX” or the “Company”) is pleased to announce that the Company has completed a Purchase and Sale Agreement (the “Purchase Agreement”) with Klondike Gold Corp. (“KG”) to acquire a 100% interest in the Vine Extension property (the “Property”) located in Cranbrook, British Columbia, that was initially under option to PJX.

The Vine Extension claims will be merged with PJX’s adjacent Vine Property. The expanded Vine Property will be over 8,000 hectares in size. Property highlights include:

• The Vine Property has gold, silver, zinc, lead, and copper in a mineralized vein structure tested by over 50 historical drill holes. The mineralization appears to be open along strike and at depth.
• The Property also has favourable geology with potential to host bedded massive sulphide mineralization (zinc, lead and silver) similar in style to Teck-Cominco’s former 150 million tonne Sullivan deposit located 35 km to the north.
• Permitting is underway to drill a large positive gravity anomaly that may represent bedded massive sulphides. Two historical holes, drilled by previous operators in the 1990’s on the Vine Property, intersected bedded massive sulphides at depths of about 750 metres on the edge of the gravity anomaly. No other holes have been drilled to that depth in the anomaly area.
• Highway 3, secondary roads, power lines and a rail line cross the property.

The Vine Extension Property was initially optioned to PJX from KG, under an Option Agreement dated April 26, 2012, which allowed PJX to earn up to a 50% interest in the Property by spending $1.5 million on exploration work and making share payments of 200,000 common shares over a 5 year period. Under the Purchase Agreement, which replaces the Option Agreement, PJX will not have to complete the remaining $1.4 million on exploration work or pay the 200,000 shares (none paid to date). PJX has purchased full ownership of the Property by issuing 700,000 common shares (“Shares”) to KG. In addition to receiving the Shares, KG retains a royalty equal to 1 percent of net smelter returns from minerals produced from claims comprising the Vine Extension Property.

KG has agreed to vote with PJX Management and Board for a period of 2 years from the closing date. If, at any time for a period of 1 year from the closing date, KG wishes to assign, sell or transfer the Shares, KG must notify PJX and PJX will have the opportunity to arrange for the sale of the Shares on terms not less favourable to KG than the terms contained in the notice provided by KG.

The Purchase Agreement is subject to compliance with applicable securities laws and to receipt of the approval of the TSX Venture Exchange.

“This is a great opportunity and important milestone for PJX”, states John Keating, President of PJX. “We now have 100% ownership of all our Properties in the Cranbrook area with no contractual liabilities, work commitments or option payments. PJX will be able to focus resources on priority targets and realize the full upside potential of the many gold and base metal showings on the Properties.”

About PJX Resources Inc.

PJX is a mineral exploration company focused on building shareholder value and community opportunity through the exploration and development of mineral resources with a focus on gold. PJX’s primary properties
are located in the historical mining area of Cranbrook and Kimberley, British Columbia. site http://www.pjxresources.com for additional information.

FOR FURTHER INFORMATION PLEASE CONTACT:

Linda Brennan, Chief Financial Officer
(416) 799-9205
info@pjxresources.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information

This News Release contains forward-looking statements. Forward looking statements are statements which relate to future events. Forward-looking statements include, but are not limited to, statements with respect to exploration results, the success of exploration activities, mine development prospects, completion of economic assessments, and future gold production. In some cases, you can identify forward-looking statements by terminology such as “may”, “appears to”, “should”, “expects”, “plans”, “anticipates”, believes”, “estimates”, “predicts”, “potential”, or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking-statements.
Although PJX has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

PJX Resources Closes Private Placement

February 11, 2014adminNewsComments Off

Toronto, Ontario – February 11, 2014 – PJX Resources Inc. (“PJX”) is pleased to announce it has completed the non-brokered private placement (the “Offering”) previously announced by the Company on November 20, 2013. The Offering was closed in two tranches with the aggregate issuance of 4,749,000 million units for total proceeds of $612,250. Approval of the Offering by the TSX Venture Exchange (the TSXV”) was received on February 11, 2014.

Pursuant to the Offering, the first tranche was completed on November 27, 2013 which resulted in the issue of 485,000 flow through units (each a “Flow Through Unit”) at a price of $0.15 per flow through unit, and 3,334,000 non-flow-through units (each a “Unit”) at a price of $0.125 per Unit for gross proceeds of $489,500. Each Unit and Flow Through Unit consists of one Common Share of PJX and one non-transferable common share purchase warrant (a “Warrant”). Each Warrant in connection with the first tranche of the Offering will entitle the holder thereof to purchase one Common Share at an exercise price of $0.20 until November 28, 2015. All securities issued under the first tranche of the Offering are subject to a statutory four-month hold period expiring on March 27, 2014.

The final tranche of the Offering was completed on February 7, 2014 through the issuance of 260,000 Flow Through Units at a price of $0.15 per Flow Through Unit, and 670,000 Units at a price of $0.125 per Unit for gross proceeds of $122,750. Each Warrant issued in connection with the final tranche of the Offering will entitle the holder thereof to purchase one Common Share at an exercise price of $0.20 until February 8, 2016. All securities issued under the Offering are subject to a statutory four- month hold period expiring on June 7, 2014.

The proceeds from the issuance of the Flow-Through Units will be used to fund exploration expenditures on the PJX’s Canadian mineral projects and will qualify as Canadian exploration expenses (as defined in the Income Tax Act Canada). PJX intends to use the net proceeds of the Offering for expenditures on the Cranbrook, British Columbia properties and for general working capital purposes.

In connection with the Offering, and in accordance with the policies of the TSXV, an aggregate of $29,600 finders’ fees were paid to Canaccord Genuity Corp. and PI Financial Corp.

About PJX Resources Inc.

PJX is a mineral exploration company focused on building shareholder value and community opportunity through the exploration and development of mineral resources. PJX’s primary properties are located in the historical mining area of Cranbrook and Kimberley, British Columbia.

Please refer to our web site http://www.pjxresources.com for additional information.

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FOR FURTHER INFORMATION PLEASE CONTACT:

Linda Brennan,

Chief Financial Officer

(416) 799-9205

info@pjxresources.com

Forward-Looking Information

This News Release contains forward-looking statements. Forward looking statements are statements which relate to future events. Forward-looking statements include, but are not limited to, statements with respect to exploration results, the success of exploration activities, use of net proceeds, mine development prospects, completion of economic assessments, and future gold production. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, believes”, “estimates”, “predicts”, “potential”, or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking-statements.

Although PJX has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 

PJX Resources Announces Private Placement

November 20, 2013adminNewsComments Off

Toronto, Ontario – November 20, 2013 – PJX Resources Inc. (“PJX”) is pleased to announce a non- brokered private placement of 4.8 million units for total proceeds of up to $600,000 through the issuance of flow through (“Flow Through Unit”) and non-flow-through units (“Unit”) at a price of $0.15 per flow through unit and $0.125 per non-flow through unit. Each unit, whether acquired as part of a Unit or a Flow Through Unit, will consist of one common share and one non-transferable common share purchase warrant. Each warrant will entitle the holder to purchase one common share at an exercise price of $0.20 for 24 months following completion of the offering.

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PJX Resources Identifies Large Gravity Target On The Vine

October 24, 2013adminNewsComments Off

Toronto, Ontario – October 24, 2013 – PJX Resources Inc.(“PJX” or the “Company”) is pleased to announce that it has completed the compilation of the results of a preliminary gravity geophysical survey conducted by Excel Geophysics Inc. and historical data on the Vine Property located near Cranbrook, British Columbia.  Interpretation of this data has identified a large target area with massive sulphide deposit potential.

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PJX Resources Acquires 100% Interest In Cranbrook Properties

October 19, 2013adminNewsComments Off

Toronto, Ontario – October 17, 2013 – PJX Resources Inc. (the “PJX” or the “Company”) is pleased to announce that the Company has completed the acquisition of a 100% interest in the Dewdney Trail, Zinger, Eddy and Vine Properties (the Properties) located in Cranbrook, British Columbia, that were initially under option to PJX.

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Pjx Resources Signs Agreement To Acquire 100% Interest In Cranbrook Properties

July 15, 2013adminNewsComments Off

Toronto, Ontario – July 15, 2013 – PJX Resources Inc. (the “PJX” or the “Company”) is pleased to announce that the Company has entered into a Purchase and Sale Agreement (the “Agreement”) with SG Spirit Gold Inc. (SG) to acquire a 100% interest in properties (the “Properties”) located in Cranbrook, British Columbia, that were initially under option to PJX.

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PJX Resources Signs Investor Relations Agreement And Provides Exploration Update

February 18, 2013adminNewsComments Off

Toronto, Ontario – February 18, 2013 – PJX Resources Inc. (“PJX” or the “Company”) is pleased to announce that the company has signed an agreement to retain the investor relations services of Kaye Wynn Consulting Inc. (“Kaye Wynn”) for an initial period of three months. Kaye Wynn will assist the Company with its investor relations and market awareness programs by reaching out to its network of investors, brokers, analysts, media contacts, and industry professionals to create a greater awareness of PJX. Kaye Wynn will receive a fee of $4,000 per month. The agreement may be cancelled by either party on 30 days notice.

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PJX Resources Zinger Drilling Results And Closing Of Private Placement

January 21, 2013adminNewsComments Off

Toronto, Ontario – January 21, 2013 – PJX Resources Inc. (“PJX” or the “Company”) is pleased to announce assay results from the first two drill holes of a program designed to test an eight kilometre zone of coincident anomalous geophysics and surface gold mineralization on the Zinger Property in Cranbrook, British Columbia.

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PJX Resources Private Placement And Exploration Update

December 20, 2012adminNewsComments Off

Toronto, Ontario – December 19, 2012 – PJX Resources Inc. (“PJX” or the “Company”) is pleased to announce a non-brokered private placement (the “Offering”) to raise up to $150,000 through the issuance of flow-through units (the “FT Units”). Each FT Unit will be sold at a price of $0.20 per FT Unit (the “Issue Price”) and will consist of one common share of the Company which will be designated as a flow-through share (the “FT Shares”) for the purposes of the Income Tax Act (Canada) (the “Tax Act”) and one common share purchase warrant (a “Warrant”). Each full Warrant entitles its holder to purchase one common share (a “Warrant Share”) at a price of $0.25 per Warrant Share for a period of 24 months following the closing of the Offering (the “Closing Date”).

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PJX Resources Closes Private Placement

October 4, 2012adminNewsComments Off

Toronto, Ontario – October 4, 2012 – PJX Resources Inc. (“PJX”) is pleased to announce it has amended and closed a non-brokered private placement announced on September 17, 2012. The amended private placement was oversubscribed and closed with the issuance of 8,939,500 million units for total proceeds of $1,485,720 through the issuance of 1,385,000 flow through units (“Flow Through Unit”) at a price of $0.20 per flow through unit, and 7,565,500 non-flow-through units (“Unit”) at a price of $0.16 per non-flow through unit. Each Unit, whether acquired as part of a Unit or a Flow Through Unit, consists of one common share and one non-transferable common share purchase warrant. Each warrant will entitle the holder to purchase one common share at an exercise price of $0.25 for 24 months following completion of the offering. All securities issued under the offering are subject to a four-month hold period.

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Contact Us
Phone: 416.799.9205
Fax: 416.644.8801
Email: info@pjxresources.com
Office
5600 – 100 King Street West
Toronto, Ontario, M5X 1C9
Canada
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