TANTALEX CLOSES $2,500,000 PRIVATE PLACEMENT FINANCING WITH A HONG-KONG BASED STRATEGIC INVESTOR
Toronto, Canada / Munich, Germany, February 20, 2017 – Tantalex Resources Corporation (CSE:TTX – FSE:1T0) (“Tantalex” or the “Corporation”), is pleased to announce that it has completed a non-brokered private placement financing (the “Offering”) for gross proceeds of $2,500,000 through the issuance of 25,000,000 units (“Units”) at $0.10 per Unit, as more fully described below, with Ruihua Investment (Hong Kong) Company Limited.
The gross proceeds from the Offering will be used by the Corporation for general working capital purposes, and more particularly for the financing of its ongoing development of the Buckell Lithium Property, located in the Manono-Kitotolo region of the DRC
Each Unit consisted of one common share in the share capital of Tantalex (a “Common Share”) and one common share purchase warrant (a “Warrant”) of Tantalex. Each Warrant entitles its holder thereof to acquire one common share of Tantalex at an exercise price of $0.12 per Common Share up to the date that is thirty-six (36) months from closing.
All securities issued under the Offering are subject to a four-month statutory hold period in Canada.
About Tantalex Resources Corporation
Tantalex is a mining company engaged in the acquisition, exploration, development and distribution of Lithium, Cobalt, Tantalum and other high-tech mineral properties in Africa with a focus in the Democratic Republic of Congo. The Company is listed on the Canadian Stock Exchange (symbol: TTX) and the Frankfurt Stock Exchange (symbol: 1T0).
For further information, please contacts Investor Relations: email@example.com
Or visit us at: WWW.TANTALEX.CA
TANTALEX RESOURCES CORPORATION
Chief Executive Officer