Platinex shareholders greenlight board changes and name update By Investing.com

© Reuters.

TORONTO – Platinex Inc. (CSE: PTX) (OTCQB: PANXF, Frankfurt: 9PX), a mining firm, introduced the outcomes of its Annual Basic Particular Assembly held on January 16, the place shareholders voted in favor of all proposed resolutions. The assembly noticed a illustration of 42.53% of the corporate’s issued and excellent shares.

The corporate’s shareholders authorised the appointment of a brand new board member, Mr. Rajesh Sharma, who can be the President and CEO of Fancamp Exploration Ltd. (Fancamp). Sharma’s appointment is a results of a Shareholder Settlement with Fancamp dated March 13, 2023. He’s acknowledged for his world management expertise in sectors reminiscent of metals, mining, and worldwide commerce, and has a historical past of main large-scale mining tasks and worldwide enterprise ventures.

Along with board modifications, shareholders consented to a company identify change from Platinex Inc. to PTX Metals Inc., anticipated to take impact in February 2024. This variation is meant to raised replicate the corporate’s diversified deal with gold, copper-nickel-PGE tasks. The ticker image on the Canadian Securities Trade (CSE) will stay PTX.

The assembly additionally resulted within the reapproval of the corporate’s inventory possibility plan. Platinex agreed to grant a complete of 6,675,000 inventory choices to its administrators, officers, technical crew, and consultants, with an train value of $0.05 per share for a three-year time period from the date of grant. Concurrently, the corporate canceled 425,000 beforehand granted choices.

Platinex’s portfolio features a 100% possession curiosity within the W2 Copper-Nickel-PGE Undertaking close to Ontario’s Ring of Hearth and a 75% curiosity within the South Timmins Mining Joint Enterprise with Fancamp, specializing in gold exploration. It additionally holds majority possession in Inexperienced Canada Company, which possesses uranium property, and an choice to earn a 100% possession curiosity within the Muskrat Dam Important Minerals Undertaking in northwestern Ontario. The corporate maintains a group of web smelter return (NSR) royalties on numerous properties in Ontario.

This report relies on a press launch assertion and monetary info could be additional verified by means of the corporate’s filings on SEDAR.

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