PPX Mining Corp. Announces Shares for Debt Settlement

19.08.2016  |  FSCwire

Vancouver - PPX Mining Corp. (the "Company"), is pleased to announce that the Company has entered into debt settlement agreements with certain creditors, two of which are a director and/or an officer of the Company (the "Creditors"). In consideration for settlement of a total combined debt of $366,943.79 owing to the Creditors by the Company, the Company will issue to the Creditors a total of 3,494,703 common shares of the Company at a deemed price of $0.105 per share.

The transaction is subject to the approval of the TSX Venture Exchange.


On behalf of the Board of Directors

Brian J. Maher
President and Chief Executive Officer



FOR FURTHER INFORMATION, PLEASE CONTACT:

PPX Mining Corp.
Kimberly Ann Arntson, Chief Financial Officer and Vice President - Corporate Development
Phone: 1-530-414-4400
Email: kimberly.ann@ppxmining.com
Website:  www.ppxmining.com



Cautionary Statement: Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.