Apex Resources cancels further placement tranche

Executive Summary

• Apex Resources Inc. will not pursue an additional tranche of its previously announced non‑brokered financing.
• The company is launching a new flow‑through (FT) financing up to $250,000, consisting of up to 3,571,429 FT units at C$0.07 per unit.
• Proceeds will be used for Canadian exploration expenses; finders’ fees and compensation warrants may be paid to third parties.

Key Details

• Financing Structure: Up to $250,000 in flow‑through financing; 3,571,429 FT units at C$0.07 per unit.
• Unit Composition: Each FT unit = one flow‑through common share + one‑half non‑transferable non‑flow‑through (NFT) share purchase warrant.
• Warrant Terms: NFT warrant exercisable for one additional non‑flow‑through common share at C$0.10 per share, valid for two years from closing.
• Compensation Warrants: Up to 7 % of the financing may be paid in cash finders’ fees and up to 7 % in compensation warrants (each warrant allows purchase of one additional common share at C$0.07, also valid for two years).
• Use of Proceeds: Funds will be applied to Canadian exploration expenses qualifying as flow‑through shares under Subsection 66(15) of the Income Tax Act (Canada).
• Regulatory Conditions: Closing and any finders’ fee payments are subject to TSX Venture Exchange approval; all securities issued will have a four‑month‑and‑one‑day hold period from closing.
• Right to Increase Financing: Apex may accept additional funds or increase the FT financing, pending regulatory approval, if oversubscribed.

Notable Quotes

(No direct quotes were provided in the release.)