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ATEX Resources Inc.

Exchange: TSXV Exchange | May 20, 2019, 3:48 PM EDT

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ATEX Closes $1.5 Million Private Placement

Vancouver, British Columbia--(Newsfile Corp. - April 30, 2019) - ATEX Resources Inc. (TSXV: ATX) ("ATEX") is pleased to announce that the private placement financing (the "Financing"), initially announced on March 18, 2019, has closed. The fully subscribed Financing comprised 10,000,000 units ("Unit") at a price of $0.15 per Unit for gross proceeds of $1.5 million. No finders' fees were paid in connection with the Financing. ATEX insiders subscribed for 32% of the Financing.

The proceeds from the Financing will be used for continued project evaluations, project acquisition and for general working capital purposes.

Each Unit is comprised of one common share of ATEX and one common share purchase warrant. Each warrant entitles its holder to acquire one additional common share of ATEX at a price of $0.20 per share within the 5-year period following the closing of the Financing.

All of the securities issued by ATEX pursuant to the Financing are subject to a hold period equal to four months and one day from the date of issuance.

About ATEX Resources Inc.

ATEX is a minerals exploration company focused on the acquisition, development and monetization of projects throughout the Americas.

On behalf of ATEX Resources Inc.

Thomas Pladsen, CEO

For more information, email info@atexresources.com or call 604 684 7160.

Neither 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 press release.

Forward Looking Information

This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/44437

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