Apex Resources Inc. Announces Closing of Kena Property Sale
May 5, 2021
May 5, 2021, Vancouver, BC., Apex Resources Inc. ("Apex", or the "Company") (TSXV: APX) is pleased to announce that it has closed its previously announced transaction (the "Transaction") with West Mining Corp. ("West") for West to acquire the Company's remaining 20% interest in the Kena and Daylight Gold-Copper Properties (the "Project") in British Columbia in exchange for: aggregate cash payments of $300,000; an aggregate of 1,500,000 common shares of West (each, a "Share"); and West granting the Company a 1.0% net smelter returns royalty on the Project, with West having the right to purchase the NSR for $500,000 at any time prior to the commencement of commercial production on the Project.
The Company was issued a Cease Trade Order (the "Cease Trade Order") by the British Columbia Securities Commission (the "Commission") on November 19, 2020 related to the Commission's technical disclosure review previously announced in the Company's press release dated December 13, 2019. The Company is still reviewing all options to correct this situation as quickly as possible. The Company confirms that the Transaction will not violate the terms of the Cease Trade Order, and that once the Company files the required disclosure with the Commission, the Company will seek to have the Cease Trade Order revoked. The Company will provide updates as and when warranted.
For further details regarding the transaction, please refer to the Company's press release dated April 12, 2021. For further details regarding the Cease Trade Order, please refer to the Company's press release dated November 23, 2020. The Company's press releases are posted on the Company's website www.apxresources.com.
About Apex Resources Inc.
Apex is a Canadian mining exploration and development company focused on British Columbia and the Yukon Territories. Apex has a portfolio of quality properties including:
- The Jersey-Emerald tungsten-zinc property in southern BC.
- The Ore Hill gold property in southern BC.
- The Mount Anderson gold-silver property in the Yukon.
Apex management has a track record of mine discovery that includes the discovery and development of the renowned Hemlo Gold Mine in Ontario and the Mengapur copper-gold-molybdenum porphyry deposit (225Mt @ 0.59% Cu equivalent) in Malaysia now under development by Monument Mining Ltd.
For further information on the Company's projects, visit www.apxresources.com.
Arthur G. Troup, P.Eng., Geological
President and CEO
For further information please contact:
Marc Lee, Investor and Corporate Communications
Tel: (604) 628-0519 Fax: (604) 628-0446
Email: moc.secruoserxpa@eelm or moc.secruoserxpa@ofni
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.