Platinex Engages David Posner for Investor Relations Services and Announces Separate Warrant Transactions
TORONTO, Jan. 09, 2018 (GLOBE NEWSWIRE) -- Platinex Inc. (CSE:PTX) (the "Company" or "Platinex") announces the appointment of 1407535 Ontario Limited, a company wholly owned by David Posner, to provide Investor Relations Services on behalf of Platinex and various compensation warrant transactions.
Platinex has agreed to pay 1407535 Ontario Limited a fee of $5,000 per month, for an initial period of six (6) months which may be extended at the mutual agreement of the parties for a further six (6) month period thereafter. The Agreement may be terminated upon 30 days' notice in writing at any time. David Posner is arm’s length to the Company.
Mr. David Posner currently serves as the Chairman of the board of directors of Nutritional High International Inc. (CSE:EAT), a director of The Lineage Grow Company Ltd. (Listing pending), Capricorn Business Acquisitions Inc. (NEX:CAK) and a director of Aura Health Corp. (a private company involved in the development and acquisition of marijuana health clinics in the US). Between 2012 and 2014, Mr. Posner served as the Acquisitions Manager for Stonegate Properties Inc., where he managed real estate properties and brokered deals in Canada and Oklahoma. He was a Managing Director of Sales and Acquisitions for Maria Chiquita Development Company from 2005 to 2012. From 2004 to 2007 he was a partner in a private investment group involved in the acquisition, re-zoning and re-positioning for sale of land holdings in Costa Rica and Panama. Mr. Posner holds a Bachelor of Arts degree from York University.
The Company announces that is has issued 750,000 compensation warrants with an exercise price of $0.24 per warrant and an expiration date five years from date of issue (“Warrants”). The Warrants were issued to arm’s length parties for services rendered to the Company.
About Platinex Inc.
Platinex is currently focusing efforts on developing various strategies to capitalize on the lucrative growth of the cannabis sector in North America. At the same time Platinex has been focusing its mining business efforts in assembling a very large property in the Shining Tree gold camp, which has received little modern exploration compared to other gold camps in the Abitibi greenstone Belt. Shares of Platinex are listed for trading on the Canadian Securities Exchange under the symbol "PTX".
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FORWARD-LOOKING STATEMENTS:
This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such statements include submission of the relevant documentation within the required timeframe and to the satisfaction of the relevant regulators, completing the acquisition of the applicable assets and raising sufficient financing to complete the Company's business strategy. There is no certainty that any of these events will occur. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances.
Investing into early stage companies, inherently carries a high degree of risk and investment into securities of the Company shall be considered highly speculative. Furthermore, the Company seeks to enter the cannabis market in the United States, where some states have legalized cannabis for medical or adult recreational use, while cannabis remain illegal under United States Federal law. As such, the Company may become subject to additional government regulation and legal uncertainties that could restrict the demand for its services or increase its cost of doing business, thereby adversely affecting its financial results.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any province in which such offer, solicitation or sale would be unlawful. The securities issued, or to be issued, under the Private Placement have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
