PLATINEX INC. ("PTX")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: August 19, 2014
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation relating to a Purchase Option Agreement (the "Agreement") dated August 11, 2014 between Perry English, on behalf of Rubicon Minerals Corporation (TSX: RMX) (the "Optioner"), and Platinex Inc. (the "Company"). Pursuant to the Agreement, the Company may acquire a 100% interest in 10 unpatented mining claims located in Contact Bay Area, District of Kenora, Ontario.
In consideration the Company shall pay an aggregate of $70,350 plus issue up to 800,000 common shares within a five year period.
The Optioners will maintain a 1.5% net smelter royalty which will be subject to a buy-back by the Company of $1,000,000 for the first 0.75% and a right of first refusal on the purchase of the remaining 0.75%.
For more information, refer to the Company's news release dated August 11, 2014.
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