Stocks in play: Platinex Inc

Announces it has entered into a binding heads of agreement dated February 6, 2023 with Fancamp Exploration Ltd. with respect to advancing the exploration and development of certain gold mineral properties owned by the parties located in Ontario in the Timmins mining camp. The Transaction includes several components, pursuant to which (i) Platinex and Fancamp will transfer certain mining properties which they currently hold to South Timmins Mining Inc., currently a 100% wholly owned subsidiary of Platinex; (ii) enter into a shareholders' agreement respecting the operations of Goldco; (iii) Platinex will conduct a non-brokered private placement of flow- through units; and (iv) Platinex will conduct a private placement of non-flow-through units, of which Fancamp will subscribe for 9.5% of the issued and outstanding shares of Platinex. Platinex Inc shares C.PTX are trading unchanged at $0.05.