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PXR

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Share Name Share Symbol Market Type
TSXV:PXR TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Prominex Resource Corp. $300,000 Private Placement

01/04/2014 11:00am

Marketwired Canada


Prominex Resource Corp. (the "Company" or "Prominex") (TSX VENTURE:PXR),
announces a non brokered private placement of 6,000,000 Units at $0.05 per unit
for gross proceeds of up to $300,000.00 (the "Private Placement"). Each Unit
comprises one common share and one full share purchase warrant. Each warrant is
exercisable into one common share for a period of 12 months from the date of
closing of the private placement at a price of $0.10 per share. All values are
in Canadian dollars unless otherwise specified.  


Prominex intends to use the proceeds from the transaction for general working
capital. Prominex may pay a finder's fee of up to 10% of the proceeds. The
finder's fees may be payable in cash or units or a combination of both.  


The offering is subject to certain conditions including, but not limited to, the
receipt of all necessary approvals, including the approval of the TSX Venture
Exchange. The securities issued pursuant to the offering will be subject to a
four month plus one day hold period from date of issuance.


The securities proposed to be offered in the private placement have not been
registered under the U.S. Securities Act of 1933, as amended, or any State
securities laws, and may not be offered or sold in the United States or to U.S.
Persons absent registration or an applicable exemption from the registration
requirements. 


In addition, the Company has entered into an agreement with a shareholder
whereby the shareholder will provided up to $125,000 to the Company by way of
shareholder loans. The shareholder loans received under this agreement are
unsecured, pay interest at 5% per annum and mature on December 31, 2014. The
Company anticipates that it will require $60,000 by way of shareholder loans to
the end of June 2014. 


ON BEHALF OF THE BOARD 

Gordon Barron, President and CEO

Neither the TSX-V nor its Regulation Services Provider (as that term is defined
in the policies of the TSX-V) accepts responsibility for the adequacy or
accuracy of this release, and no securities regulatory authority has approved or
disapproved of the contents of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Prominex Resource Corp.
Gordon Barron
President and CEO
1.604.566.1094
www.prominex.ca

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