06:35:23 EDT Sun 05 May 2024
Enter Symbol
or Name
USA
CA



Vantex Resources Ltd (4)
Symbol VAX
Shares Issued 3,342,564
Close 2019-12-09 C$ 0.10
Market Cap C$ 334,256
Recent Sedar Documents

ORIGINAL: Vantex begins drilling at Clericy, arranges financing

2019-12-11 15:39 ET - News Release

Received by email:

File: Attachment 2018.12.11 Vantex - NR - Work Program and PP.pdf

                                        VANTEX RESOURCES LTD.
                                      Suite 400-837 West Hastings Street
                                           Vancouver, BC V6C 3N6

           2019 CLERICY PROPERTY EXPLORATION PROGRAM AND FINANCING

Vancouver, Canada, December 11, 2019   Vantex Resources Ltd. (the "Company" or "Vantex") (CSE:
VAX; OTC: KTNND; FRA: KYH1) announces that the Company has initiated a short scout drill program
on its 100% owned Clericy Project in the Abitibi region of Quebec.

The goal of this program is to investigate a linear magnetic anomaly that has not been fully evaluated in
previous drilling campaigns. Limited outcrop and deep overburden necessitate the use of a drill for these
investigations. Structural and geochemical results will be used to develop a model for future exploration on
the property. The total estimated budget for this program is $30,000.

The Clericy Project is situated in the Abitibi region of Quebec and lies 8 km northwest of Agnico Eagle's
Laronde Mine and 30 km east of Rouyn-Noranda.

The Company also announces that it will do a non-brokered private placement (the "Private Placement")
for up to a combination of 666,667 Flow-Through Shares ("Flow-Through Shares") and non-flow-through
units ("Units") at a price of $0.075 per unit to raise total proceeds of $50,000.

Each Unit will be comprised of one common share of the Issuer (a "Share") and one common share purchase
warrant of the Issuer (each whole warrant, a "Warrant"). Each Warrant will be exercisable into a common
share of the Company (a "Warrant Share") at an exercise price of CDN$0.115 with a 12-month expiry.

Shares issued pursuant to this Private Placement are subject to a four-month hold period from the closing
date in accordance with applicable securities laws and, if required the policies of the Exchange.

Finder's fees or commissions may be payable by the Company in connection with this Private Placement.

The proceeds of this private placement are for the Company's work program.

VANTEX RESOURCES LTD.

Per:     Anthony Jackson,
         Director
         info@vantex.com

Forward Looking Information
This news release includes certain statements that constitute "forward -looking information" within the meaning of
applicable securities law, including without limitation, statements that address the Angus Property, comments
regarding the timing and content of upcoming work programs, geological interpretations, costs and timing of future
exploration and development, requirements for additional capital, other statements relating to the financial and
business prospects of the Company. Forward-looking statements address future events and conditions and are
necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other
information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions
 of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs,
plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or
phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans",
"estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will
--->"
be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of
historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon a
number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be
materially different from future results, performances or achievements express or implied by such statements. Such
statements and information are based on numerous assumptions regarding present and future business strategies and
the environment in which the Company will operate in the future, including the price of zinc and other metals,
anticipated costs and the ability to achieve goals. While such estimates and assumptions are considered reasonable
by the management of the Company, they are inherently subject to significant business, economic, competitive and
regulatory uncertainties and risks. Forward-looking statements are subject to a variety of risks and uncertainties,
which could cause actual events, level of activity, performance or results to differ materially from those reflected i
--->n
the forward-looking statements, including, without limitation: (i) risks related to zinc, base metal and other
commodity price fluctuations; (ii) risks and uncertainties relating to the interpretation of exploration results; (iii
--->)
risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and
expenses; (iv) that resource exploration and development is a speculative business; (v) that the Company may lose
or abandon its property interests or may fail to receive necessary licences and permits; (vi) that environmental laws
and regulations may become more onerous; (vii) that the Company may not be able to raise additional funds when
necessary; (viii) the possibility that future exploration, development or mining results will not be consistent with t
--->he
Company's expectations; (ix) exploration and development risks, including risks related to accidents, equipment
breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration and development;
(x) competition; (xi) the potential for delays in exploration or development activities or the completion of geologic
reports or studies; (xii) the uncertainty of profitability based upon the Company's history of losses; (xiii) risks
related to environmental regulation and liability; (xiv) risks associated with failure to maintain community
acceptance, agreements and permissions (generally referred to as "social licence"); (xv) risks relating to obtaining
and maintaining all necessary government permits, approvals and authorizations relating to the continued
exploration and development of the Company's projects; (xvi) risks related to the outcome of leg al actions; (xvii)
political and regulatory risks associated with mining and exploration; (xix) risks related to current global financial
conditions; and (xx) other risks and uncertainties related to the Company's prospects, properties and business
strategy. These risks, as well as others, could cause actual results and events to vary significantly. There can be no
assurance that planned exploration will be completed as proposed or at all, or that economic resources will be
discovered or developed at the Sully Property. Accordingly, actual results may differ materially from those currently
anticipated in such statements. Factors that could cause actual results to differ materially from those in forward
looking statements include, but are not limited to, continued availability of capital and financing and general
economic, market or business conditions, the loss of key directors, employees, advisors or consultants, equipment
failures, failure of counterparties to perform their contractual obligations and fees charged by service providers.
Investors are cautioned that forward-looking statements are not guarantees of future performance or events and,
accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of
such statements. The forward-looking statements included in this news release are made as of the date hereof and the
Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as expressly required by applicable securities
legislation. Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for
the adequacy or accuracy of this news release.
 


© 2024 Canjex Publishing Ltd. All rights reserved.