Apex Announces Financing for Critical Minerals and Precious Metals at Jersey-Emerald Property
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES NOR FOR DISSEMINATION IN THE UNITED STATES
Vancouver, British Columbia--(Newsfile Corp. - June 18, 2025) - Apex Resources Inc. (TSXV: APX) ("Apex" or the "Company") announces that further to the Company's news releases dated May 27, 2025 and February 28, 2025, the Company intends to complete a non-brokered financing (the "Financing") for a total of up to $1,000,000 involving the sale of flow-through shares (the "FT Shares") and non-flow-through units (the "NFT Units").
The flow-through funding will consist of up to 5,000,000 FT Shares, priced at $0.10 per FT Share for gross proceeds of up to $500,000 and the non-flow-through funding will consist of up to 7,142,858 NFT Units, priced at $0.07 per NFT Unit for gross proceeds of up to $500,000. Each NFT Unit will consist of one common share plus one-half non-transferable share purchase warrant (a "Warrant"). Each whole Warrant is exercisable to purchase one additional common share of the Company (the "Warrant Share") at $0.12 for a period of two years from the date of closing.
The Warrants are subject to an accelerated expiry date, which comes into effect when the trading price on the TSX Venture Exchange of the Company's common shares closes at or above $0.20 per share for a period of 10 consecutive trading days commencing four months plus one day after the date of closing. In such event, the Company may, at its option, accelerate the expiry date of the Warrants by issuing a press release (the "Notice") to the Warrant holders and in such case, the expiry date of the Warrants will be 30 days from the date of the Notice.
The FT Shares will qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act"). The gross proceeds raised from the sale of the FT Share will be used by the Company to incur "Canadian exploration expenses" (within the meaning of the Tax Act). The Company will use funds raised from the sale of the NFT Units on non-flow-through eligible project expenses as well as for general working capital purposes. The Company reserves the right to accept additional funds or increase the Financing, subject to regulatory approval, should the Financing be oversubscribed.