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Re: News Releases - Friday, April 17, 2015
PHOENIX METALS ANNOUNCES PRIVATE PLACEMENT
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Vancouver, B.C.: Phoenix Metals Corporation ("Phoenix" or the
"Company") (TSX-V Symbol: PHC) is pleased to announce a non-brokered
private placement of up to 15.0 million units at a price of two and one
half cents per unit ($0.025) to raise proceeds of up to $375,000. Each
unit will consist of one common share and one common share purchase
warrant (the "Unit Warrants") with each Unit Warrant entitling the
holder to acquire one additional common share at a price of five cents
($0.05) per share for one year from closing. The Unit Warrants are
subject to the right of the Company to accelerate the exercise period
for the Unit Warrants if the common shares of the Company trade above
ten cents ($0.10) for a period of 10 consecutive trading days. The
proceeds of the private placement will be allocated toward expenditures
on the Peace River Frac Sand Project and the continuing evaluation and
potential acquisition of Frac Sand assets in the Western United States
and for general working capital purposes. The private placement is
subject to regulatory approval nd the Company may pay finders' fees on
the private placement proceeds to certain parties in accordance with
the policies of and subject to the approval of the TSX Venture
Exchange.
Peace River Frac Sand Project:
The Company has made the initial down payment and permit payments (to
2016) on the 100% acquisition of the "Peace River Frac Sand Project"
(see News Release of October 7th, 2014). The Company will not be
proceeding with the 60% option of the Project announced on November 3rd
2014. Testing is planned as a first step when weather permits. The
Peace River Frac Sand Project surrounds the operations of the 500,000
tonne per year silica sand mine privately owned by the Laprarie Group
and operated by Canadian Silica Industries. The share issuance under
the transaction is subject to the approval of the TSX Venture Exchange.
Western USA Frac Sand Project(s):
The Company has entered into a Finder's Fee arrangement with Harrison
Land Services LLC ("Harrison") of Moab, Utah whereby Harrison is
conducting a targeting, sampling and acquisition program for Frac Sand
assets in the Western USA. An initial ten targets have been identified
on State Lands and results from Phase 1 testing have narrowed the focus
to four targets for Phase 2 testing. Upon obtaining the results from
Phase 2 testing the Company will proceed to potential acquisition via
the State Lease process.
The Company's focus is on the acquisition and development of long-term
Frac Sand/Proppant assets while energy prices are low. Acquired assets
will serve the developed North American market or be proximal to large
unconventional oil and gas resources around the world. According to
Sandsource, the total proppant market in 2014 was 77 billion pounds
with Frac Sand making up just under 90% of the total volume.
On behalf of the Board of Directors of
Phoenix Metals Corporation
"Brian Leeners"
Brian Leeners, CEO & Director
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information: This news release contains certain
forward-looking information. All information, other than information
regarding historic fact that addresses activities, events or
developments that the Company believes, expects or anticipates will or
may occur in the future is forward-looking information. Forward-looking
information contained in this news release includes, but may not be
limited to the progress and success of the Company's projects,
including the Company's goals and business plan with respect to the
frac sand business and the future demand for frac sand. The
forward-looking information contained in this news release reflects the
current expectations, assumptions and/or beliefs of the Company based
on information currently available to the Company. With respect to the
forward-looking information contained in this news release, the Company
has made assumptions regarding, among other things, the Company's
future working capital requirements, the Company's ability to generate
sufficient cash flow from operations and access existing credit
facilities and capital markets to meet its future obligations, goals
and business plan, future prices for frac sand and by-products and
future demand for processed frac sand. The forward-looking information
contained in this news release is subject to a number of risks and
uncertainties that may cause actual results or events to differ
materially from current expectations, including the need to obtain
required approvals and permits from regulatory authorities, the
volatility of frac sand and by-product prices and demand and
geological, technical, drilling and processing problems. Any
forward-looking information speaks only as of the date on which it is
made and, except as may be required by applicable law, the Company
disclaims any obligation to update or modify such forward-looking
information, either because of new information, future events or for
any other reason. Although the Company believes that the assumptions
inherent in the forward-looking information are reasonable,
forward-looking information is not a guarantee of future performance
and accordingly undue reliance should not be put on such information
due to the inherent uncertainty therein.
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Metals X Ltd
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EXPLORATEUR |
CODE : MLX.AX |
ISIN : AU000000MLX7 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Metals X est une société développant des projet miniers de étain basée en Australie. Son principal projet en exploration est RENISON au Tasmanie. Metals X est cotée aux Etats-Unis D'Amerique, en Australie et en Allemagne. Sa capitalisation boursière aujourd'hui est 286,4 millions AU$ (206,7 millions US$, 181,1 millions €). La valeur de son action a atteint son plus haut niveau récent le 28 novembre 2014 à 2,76 AU$, et son plus bas niveau récent le 20 mars 2020 à 0,05 AU$. Metals X possède 609 340 032 actions en circulation. |