Apex Resources JV Partner, Acquireco, Merges With Prize Mining Corp.
02.05.2017 | The Newswire
Vancouver, May 2, 2017 - Apex Resources Inc. ("Apex" or the "Company) (TSXV: APX;) announces that effective April 13, 2017 Acquireco, (1994854 Alberta Ltd.,) its joint venture partner on the Kena Project has merged with Prize Mining Corporation ("Prize") (TSXV: PRZ;), a Calgary based junior mining issuer (see Prize news release of April 13, 2017). With this merger Prize will assume Acquireco's obligations regarding the Apex-Acquireco Kena Project joint venture option agreement.Pursuant to the option agreement Prize may earn an 80% interest in Apex's Kena and Daylight Gold-Copper Properties (the "Kena Project") located in the Nelson area of British Columbia, Canada. To exercise its option and earn its 80% interest in the Project, Prize must make annual cash and share option payments over 36 months totaling $1,250,000 and 1,500,000 shares and complete $3,000,000 in Kena Project related exploration expenditures over four years (see Apex news release of Sep 26, 2016).
Prize shares trade on the TSX Venture Exchange under the trading symbol PRZ. Prize shares were halted pending approval of the merger with 1994854 Alberta Ltd. but resumed trading on April 27th 2017.
For more information on the Company's projects, please visit www.apxresources.com
On Behalf of the Board of Directors of Apex Resources Inc.
Arthur G. Troup, P.Eng., Geologica
President and CEO
For further information please contact:
Marc Lee, Investor and Corporate Communications
Tel: (604) 628-0519
Fax: (604) 628-0446
Email: mlee@apxresources.com or info@apxresources.com
This release was prepared by Apex's management. Neither TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that Apex expects are forward-looking statements. Although Apex believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on Apex, investors should review Apex's filings that are available at www.sedar.com or Apex's website at www.apxresources.com.
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