TORONTO, ON / ACCESSWIRE / December 10, 2019 / This news release is issued by George Patton pursuant to the early warning requirements of Canada’s National Instrument 62-104 and National Instrument 62-103 with respect to class A common shares (“common shares”) of PJX Resources Inc.
On December 6, 2019 Mr. Patton (the “Offeror”) On December 06, 2019, pursuant to a non-brokered private placement, Mr. Patton acquired direct ownership of 3,333,333 units of PJX Resources Inc. (the “Issuer”) at a price of $0.15 per unit, for a total price of $500,000 paid in cash. Each unit consists of 1 common share and 1 share purchase warrant entitling the Offeror to purchase 1 common share at a price of $0.25 for a period of 3 years.
As a result of the acquisition described above, the Offeror now owns or directs a total of 19,061,274 common shares, representing approximately 17.64% of the 108,054,294 post financing issued and outstanding shares of the Issuer.
The Offeror owns or directs a total of 3,333,333 share purchase warrants. If all of these warrants were exercised, the Offeror would own or direct a total of 22,394,580 common shares, representing approximately 19.66% (calculated on a fully diluted basis) of the 113,856,451 then issued and outstanding common shares of the Issuer.
For further information and to obtain a copy of the early warning report filed under applicable Canadian provincial securities legislation in connection with the transactions hereunder, please go to PJX Resources Inc.’s profile on the SEDAR website (www.sedar.com).
SOURCE: PJX Resources Inc.
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