PPX Mining closes $2.58-million private placement

Executive Summary

• PPX Mining Corp. closed an upsized non‑brokered private placement raising $2,580,004 in gross proceeds.
• The offering consisted of 22,434,813 units at C$0.115 per unit, each unit containing one common share and one common share purchase warrant (exercise price C$0.14, exercisable until 11 Sept 2027).
• Proceeds will be used to fund continued exploration at the Mina Callanquitas project and for general working‑capital purposes.

Key Details

• Units Issued: 22,434,813 units @ C$0.115 per unit → gross proceeds $2,580,004.
• Unit Composition: 1 common share + 1 common share purchase warrant (exercise price C$0.14, exercisable until 11 Sept 2027).
• Finder Compensation: 994,182 finder units issued to arm’s‑length finders; each finder unit also comprised 1 common share + 1 non‑transferable warrant with the same exercise terms.
• Hold Period: All securities subject to a four‑month hold period expiring 12 Jan 2026 under Canadian securities law.
• Regulatory Condition: Closing pending final approval of the TSX Venture Exchange.
• Use of Proceeds:
• Advance ongoing exploration at the Mina Callanquitas gold‑silver project in northern Peru.
• General working‑capital needs of PPX Mining Corp.

Notable Quotes

(No CEO/President quotes provided in the release.)