PJX Resources Announces Close of First Tranche of Private Placement
PJX raised $3.4m to fund drilling at its Sullivan District project.
PJX Resources Inc. announced the closing of the first tranche of its non-brokered private placement on July 8, 2026. The company raised gross proceeds of $3,422,040 through the issuance of 3,866,666 Flow Through Units (FTUs) and 22,736,320 common Units. Subscription prices ranged from $0.125 for standard units to $0.18 for Charity Flow-through Critical Metals Units. Each unit includes one common share purchase warrant exercisable at $0.20 per share for 24 months. Finder's fees included $90,300 in cash and 690,666 non-transferable warrants at $0.20 strike.
Proceeds are allocated to exploration on the Dewdney Trail and Zinger properties in Cranbrook, BC, plus general working capital. Flow-through proceeds will be renounced as Canadian exploration expenses by December 31, 2026. Exploration updates confirm permits are in place to begin drilling Sedex targets at Dewdney Trail in July 2026. Drilling at the RIRGS-type Gar target on the Zinger Property is planned for later summer 2026, pending permit renewals.
Shareholder meeting results from June 24, 2026, showed all resolutions passed, including the appointment of new director James McDonald and the departure of Victor Bradley. Insider participation was noted, classified as a related party transaction relying on MI 61-101 exemptions.
PJX Resources Inc. (PJX) issued an announcement on July 8, serving as a direct follow-up to its June 18, 2026, disclosure of a $6.3 million offering. The execution of the first tranche is expected to be incremental, providing necessary runway for the company’s planned July and summer 2026 drilling programs.
The release did not include new geological data, resource estimates, or strategic partnerships. While the financing is dilutive, it is considered standard for an exploration-stage company advancing two discovery-stage targets.
PJX Resources Inc. (TSX-V: PJX) is an exploration-stage company focused on the Sullivan Mining District in southeastern British Columbia. The company holds a 100% owned 750 km² land package, the largest in the district. Flagship projects include the Dewdney Trail Property, which hosts Sedex-style zinc-lead-silver targets, and the Zinger Property, which features Reduced Intrusion Related Gold System (RIRGS) gold targets. The nearby historic Sullivan mine produced over 297 million ounces of silver and millions of tonnes of lead and zinc before closing in 2001. The company is in the discovery/exploration phase with no NI 43-101 mineral resources or reserves reported.