PJX Resources Announces Warrant Extension and Exploration Update
Rhea-AI Summary
PJX Resources (OTC: PJXRF) intends to extend the expiry of 21,610,038 share purchase warrants by 12 months to November 23, 2026, subject to TSXV approval. The Warrants were issued in a private placement on November 24, 2023 and remain exercisable at $0.20 per share with all other terms unchanged.
A total of 726,380 of these Warrants are held by related parties; the company expects to rely on exemptions under MI 61-101 and TSXV Policy 5.9 because insider-held Warrants do not exceed 25% of market capitalization. A material change report will be filed upon TSXV approval.
Exploration work on the Dewdney Trail Property is complete for the season; core and rock samples have been sent for analysis but results will not be compiled before the original warrant expiry, prompting the extension to allow shareholders more time to consider exercise.
Positive
- Warrants extended by 12 months to Nov 23, 2026
- Exercise price unchanged at $0.20 per share
- Seasonal drilling and surface exploration completed on Dewdney Trail
- Core and rock samples dispatched for laboratory analysis
Negative
- 21,610,038 warrants outstanding could cause shareholder dilution if exercised
- Exploration results not available before original expiry date, delaying clarity for investors
- 726,380 warrants held by related parties constitute a related party transaction
News Market Reaction
On the day this news was published, PJXRF declined 15.58%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
TORONTO, ON / ACCESS Newswire / October 23, 2025 / PJX Resources Inc. ("PJX" or the "Company") is pleased to announce, subject to the approval of the TSXV Exchange, the Company intends to extend the expiry date of 21,610,038 share purchase warrants, (the "Warrants") by 12 months to November 23, 2026. The Warrants were issued pursuant to a private placement accepted for filing by the TSX Venture Exchange on November 24, 2023. The Warrants are exercisable at
A total of 726,380 of the affected Warrants are held by parties considered to be "related parties" of the Company. Therefore, the amendment of Warrants constitutes a "related party transaction" as contemplated by Multilateral Instrument 61-101 Protection of Minority Shareholders in Special Transactions, and TSXV Policy 5.9 - Protection of Minority Shareholders in Special Transactions. However, the exemptions from formal valuation and minority approval requirements provided for by these guidelines can be relied upon as the fair market value of the Warrants held by insiders does not exceed
Exploration Update
Drilling and surface exploration this year to discover the stratigraphy hosting Sullivan deposit style and grade zinc, lead, silver, cobalt, and gold mineralization found in boulders at the base of a mountain slope on the Dewdney Trail Property has been completed.Core and rock samples have been sent for analysis. All the results will not be received and compiled prior to the warrant expiration date. For this reason, the Company decided to extend the warrants for one year to provide shareholders with the potential opportunity to exercise their warrants.
About PJX Resources Inc.
PJX is a mineral exploration company focused on building shareholder value and community opportunity through the exploration and development of mineral resources with a focus on gold, silver, zinc, lead, copper, cobalt and other critical metals. PJX has consolidated
FOR ADDITIONAL INFORMATION PLEASE CONTACT:
Linda Brennan, Chief Financial Officer
(416) 799-9205
info@pjxresources.com
Cautionary Note Regarding Forward-Looking Information
The information in this news release has been prepared as at the date noted above. Certain statements in this news release, referred to herein as "forward-looking statements", constitute "forward-looking statements" under the provisions of Canadian provincial securities laws. These statements can be identified by the use of words such as "expected", "may", "will" or similar terms.
Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by PJX Resources Inc. as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors, known and unknown, could cause actual results to be materially different from those expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as otherwise required by law, PJX Resources Inc. expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in PJX Resources Inc.'s expectations or any change in events, conditions or circumstances on which any such statement is based.
Cautionary Note to US Investors:
This news release may contain information about adjacent properties on which PJX Resources Inc. has no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward- looking statements including but not limited to the various prices and volume of the strategic investment; the use of proceeds from the Strategic Investment, and the structure of the Strategic Investment, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
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.
SOURCE: PJX Resources Inc.
View the original press release on ACCESS Newswire
FAQ
What change did PJX Resources (PJXRF) announce on October 23, 2025 about warrant expiry?
What is the PJXRF warrant exercise price after the extension?
How many PJXRF warrants are held by related parties and what does that mean?
Why did PJXRF extend warrants to November 23, 2026?
What exploration progress did PJX Resources report for the Dewdney Trail Property?
Will PJX file any regulatory reports after TSXV approval of the warrant amendment?
