TORONTO, Nov. 17, 2017 (GLOBE NEWSWIRE) -- James R. Trusler, c/o Platinex Inc., Suite 807, 20 William Roe Blvd., Newmarket, ON L3Y 5V6 (the "Offeror"), announces that his ownership of securities of Platinex Inc. (the "Company") has been increased to approximately 9.34% of the Company's issued and outstanding share capital as a result of an acquisition of units pursuant to a private placement offering.
Prior to the acquisition of units by the Offeror, Mr. Trusler, Director and President of the Company, held 5,405,760 common shares, representing approximately 6.61% of the then issued and outstanding shares of the Company, and assuming exercise of 1,750,000 stock options, Mr. Trusler would hold 7,155,760 common shares, representing approximately 8.57% of the then issued and outstanding shares of the Company.
Following the acquisition of 3,045,500 units for a total of 3,045,000 common shares (the "Common Shares") and 3,045,000 common share purchase warrants (the "Warrants") of the Company on November 15, 2017, the Offeror owns 8,405,760 Common Shares, representing approximately 9.34% of the issued and outstanding shares of the Company, and assuming exercise of 3,045,000 Warrants and 1,750,000 stock options, Mr. Trusler would hold 13,245,760 common shares, representing approximately 13.91% of the issued and outstanding shares of the Company.
This news release is issued pursuant to National Instrument 62-103 - The Early Warning System. A copy of the Early Warning Report will appear with the Company's documents on the SEDAR website at www.sedar.com.
FOR FURTHER INFORMATION:
James R. Trusler
Telephone: 905-470-6400
jtrusler@platinex.com
To receive Company press releases, please email jtrusler@platinex.com and
mention “Platinex press release” on the subject line.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.