Vancouver, British Columbia–(Newsfile Corp. – February 11, 2025) – Apex Resources Inc. (TSXV: APX) (OTC Pink: SLMLF) (“Apex” or the “Company”) is pleased to announce that further to its news release dated January 3, 2025, it has closed the first tranche (the “First Tranche“) of its non-brokered financing (the “Financing“) with the issuance of 3,800,000 units at a price of $0.05 per unit (a “Unit“) for gross proceeds of $190,000.
Each Unit is comprised of one common share of the Company and one non-transferrable common share purchase warrant (a “Warrant“). Each Warrant entitles the holder to purchase one additional common share of the Company (a “Warrant Share“) at a price of $0.10 per Warrant Share for a period of two years expiring on February 10, 2027 (the “Expiry Date“), subject to the Acceleration Provision (as defined below).
If at any time prior to the Expiry Date, the Company’s common shares trade at or above a price of $0.20 per common share on the TSX Venture Exchange (the “Exchange“) for a period of 10 consecutive trading days commencing four months plus one day after the date of issuance of the Warrants, the Company may, at its option, accelerate the expiry of the Warrants by issuing a press release announcing such acceleration (the “Acceleration Press Release“), and, in such case, the Expiry Date shall be deemed to be the 30th day following the date of issuance of the Acceleration Press Release (the “Acceleration Provision“).
The securities issued pursuant to the First Tranche are subject to a four-months and one day hold period expiring June 11, 2025.
The Company intends to continue with the remainder of the Financing to raise aggregate gross proceeds of up to $750,000. Completion of subsequent tranche(s) of the Financing remains subject to approval by the Exchange and all securities issued under any subsequent tranche(s) will be subject to a four month and one day hold period calculated the date of closing of such subsequent tranche(s).
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any U.S. state securities laws, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent registration under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is available.
