Vancouver, British Columbia: Organimax Nutrient Corp. (TSX-V: KMAX) (“OrganiMax” or “the Company”) announces that, subject to the approval of the TSX Venture Exchange, under- take a non-brokered private placement of up to 7,000,000 units (the “Units”) at a price of five cents ($0.05) per Unit for gross proceeds of up to $350,000 (the “Financing”). Each Unit shall be com- prised of one common share in the capital of the Company and one half (1/2) of a common share purchase warrant, with each full warrant entitling the holder to purchase one common share at a price of fifteen cents ($0.15) per share at any time within two years of the date of issuance. All secu- rities to be issued under this private placement will be subject to a four-month resale restriction.
Finders’ fees or commissions will be payable to registered representatives in connection with the Financing.
The Company intends to close the private placement immediately following the satisfaction of cus- tomary closing conditions, including receipt of all regulatory approvals. Net proceeds of this private placement are for general working capital purposes, to advance its SOP-lithium projects in Mexico, and for the evaluation of new business opportunities.
About OrganiMax Nutrient Corp. (KMAX.V)
OrganiMax Nutrient Corp is an exploration company focused on advancing its 100%-owned potas- sium and lithium bearing salar complex of mineral concessions located the Central Mexican Plateau located in the states of Zacatecas, San Luis Potosi and Coahuila, Mexico. The Company has previ- ously identified both potassium and lithium in both the salar sediments and near-surface brines, and is progressing towards its maiden sediment mineral resource estimate (MRE). In addition, recent regional geophysical work has indicated that the depths of the salar basins may be much greater than previously thought, making the salars highly prospective for large brine aquifers to be discovered at depth. TheCompanyistargetingSulfateofPotash(SOP)asitsprimaryproductalongwithassoci- ated by-products Lithium Carbonate (LCE) and boron for both the domestic and international mar- kets. SOP is a premium specialty fertilizer that is used in the production of high-value chloride sen- sitive crops such as fruits, vegetables, and nuts.
On behalf of the Board of Directors of OrganiMax Nutrient Corp., “Brandon Rook”
Brandon Rook, Chief Executive Officer.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RE- SPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
The information contained herein contains “forward-looking statements” within the meaning of ap- plicable securities legislation. Forward-looking statements relate to information that is based on as- sumptions of management, forecasts of future results, and estimates of amounts not yet determina- ble. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, as- sumptions or future events or performance are not statements of historical fact and may be “for- ward-looking statements.”
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