Vancouver, British Columbia: Organimax Nutrient Corp. (TSX-V: KMAX) (“OrganiMax” or “the Company”) announces that, further to its August 19, 2019 release, it has received approval from the TSX Venture Exchange (the “Exchange”) of its non-brokered $0.05 unit private placement financing (the “Financ- ing”). The Company will issue 9,260,000 units (the “Units”) for gross proceeds of $463,000, each Unit being one common share in the capital of the Company and one common share purchase warrant, with each full warrant entitling the holder to purchase one common share at a price of seven and a half cents ($0.075) per share at any time within two years of the date of issuance. All securities issued under this Financing are sub- ject to a four-month resale restriction. There are no fees or commissions payable with this financing.
Net proceeds of this private placement are for general working capital purposes, to advance the Company’s 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 potassium 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 previously identified both potassium and lithium in both the salar sediments and near-surface brines, and is progressing towards its maiden sedi- ment 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 forlargebrineaquiferstobediscoveredatdepth. TheCompanyistargetingSulfateofPotash(SOP)asits primary product along with associated by-products Lithium Carbonate (LCE) and boron for both the domes- tic and international markets. SOP is a premium specialty fertilizer that is used in the production of high- value chloride sensitive crops such as fruits, vegetables, and nuts.
On behalf of the Board of Directors of OrganiMax Nutrient Corp.,
Brandon Rook, Chief Executive Officer.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
The information contained herein contains “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be “forward-looking statements.”
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