Tantalex Resources Corp.: Announces Shares for Debt Transaction
TORONTO and MUNICH, Nov 11, 2016 - Tantalex Resources Corporation (CSE:TTX) (CSE:TTX.CN) (FRANKFURT:1T0) ("TANTALEX" or the "Corporation"), announces that it has entered into an agreement with an arm's length service provider, pursuant to which Tantalex will settle $157,500 of debt through the issuance of 1,500,000 common shares based on an agreed issue price of $0.105 per share (the "Common Shares"). Tantalex determined to satisfy the indebtedness with common shares in order to preserve its cash. The Common Shares to be issued in satisfaction of the indebtedness will be subject to a four month statutory hold period from the date of issuance.
About TANTALEX Resources Corporation
TANTALEX is a mining company engaged in the acquisition, exploration, development and distribution of Lithium, Tantalum and other high-tech mineral properties in Africa. The Corporation is listed on the Canadian Stock Exchange (symbol: TTX) and the Frankfurt Stock Exchange (symbol: 1T0).
Cautionary Note Regarding Forward Looking Statements
The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although TANTALEX believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, TANTALEX disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.
The Canadian Securities Exchange (CSE) has not reviewed this news release and does not accept responsibility for its adequacy or accuracy.
For further information, please contacts Investor relations: ir@tantalex.ca
Or visit us at: WWW.TANTALEX.CA
Contact
Tantalex Resources Corp.
Dave Gagnon, Chief Executive Officer
+16479637476
+37254728653
dg@tantalex.ca
Tantalex Resources Corp.
Kyle Appleby, Chief Financial Officer
+14164179176
ka@tantalex.ca
Tantalex Resources Corp.
Christina Lalli, Manager, Investor Relations
+14379924114
cl@tantalex.ca
