Apex Resources Inc. announced a private placement of 10,000,000 units at a price of CAD 0.05 per unit for gross proceeds of up to CAD 500,000 on January 17, 2022. Each unit is comprised of one common share and one non-transferable share purchase warrant. Each warrant is exercisable into one common share of the company at an exercise price at CAD 0.10 per share for a period of 24 months from the date of issuance.

The warrants are subject to an acceleration clause whereby if the volume weighted average closing price of the shares on the exchange is CAD 0.15 or more for 21 consecutive trading days at any time subsequent to the expiry of six months from the date of issuance of the warrants, then the company will earn the right by providing notice to the warrant holders, to accelerate the expiry date of the warrants to that date which is 30 days from the date of the acceleration notice. The transaction is subject to an over-allotment option exercisable at the sole discretion of the company any time prior to closing to issue up to an additional 5,000,000 shares for up to an additional CAD 250,000 of gross proceeds. The company may pay a finder's fee of up to 7% cash and 7% finder's warrants to qualified parties.

Each finder's warrants will be exercisable under the same terms as the private placement warrants. All securities to be issued will be subject to a four months plus one day hold period. The transaction is subject to the approval of TSX Venture Exchange.