Reflex Advanced Materials Corp. Completes First Tranche of Non-Brokered Private Placement

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VANCOUVER, British Columbia, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Reflex Advanced Materials Corp. (CSE:RFLX) (OTCQB:RFLXF) (FSE:HF2) (“Reflex” or the “Company”) is pleased to announce that it has closed a first tranche of its previously announced non-brokered private placement financing (the “Private Placement”) for aggregate gross proceeds of CAD$575,000. Pursuant to the Private Placement, the Company issued 5,750,000 units (each, a “Unit”) at a price of CAD$0.10 per Unit. Each Unit consists of one (1) common share (each, a “Share”) and one (1) common share purchase warrant (each, a “Warrant”). Each Warrant is exercisable into one (1) Share at an exercise price of CAD$0.15 until January 4, 2026.

The Company intends to use the net proceeds raised from the Private Placement to undertake advanced exploration and development activities on the Ruby Graphite Project and for general working capital. All securities issuable in connection with the Private Placement are subject to a statutory hold period in accordance with applicable securities laws of four months and one day from the date of issue, expiring on May 5, 2024. No finders fees were paid in connection with the closing of the first tranche.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the U.S. Securities Act of 1933, as amended (the “1933 Act”), or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act and applicable state securities laws.

ON BEHALF OF THE BOARD OF DIRECTORS

Paul Gorman        
CEO & Director

Reflex Advanced Materials Corp.
Suite 915 - 700 West Pender Street
Vancouver, BC V6C 1G8
Canada
Tel: [phone]
Email: [e-mail]

About Reflex Advanced Materials

Reflex Advanced Materials Corp. is a mineral exploration company based in British Columbia. Its objective is to locate and, if warranted, develop economic mineral properties in the strategic metals and advanced materials space. It is focused on improving domestic specialty mineral infrastructure efficiencies to meet surging national demand by North American manufacturers. The Company is working to advance its Ruby Graphite Project, located in Beaverhead County, Montana, and ZigZag Property, located in Thunder Bay Mining Division, Crescent Lake Area, Ontario.