TANTALEX LITHIUM RESOURCES ANNOUNCES SECOND TRANCHE CLOSING OF PRIVATE PLACEMENT
Summary
Simon Collins, a director of the Corporation, acquired 19,532,857 Common Shares for total consideration of CDN$683,650. Notwithstanding the foregoing, the Corporation has determined that Mr. Collins participation in the Private Placement is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 in reliance on the exemptions set forth in sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101, as neither the fair market value of the Common Shares purchased nor the consideration paid by him exceeds 25% of the Corporations market capitalization. No special committee was established in connection with the transaction, and no materially contrary view was expressed or made by any director.The proceeds of the Private Placement will be used for project expenditures related to the optimization of the TiTan tin and tantalum plant and for general working capital. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.Tantalex Lithium is an exploration and development stage mining company engaged in the acquisition, exploration, development and distribution of lithium, tin, tantalum and other high-tech mineral properties in Africa.It is currently focused on developing its lithium assets in the prolific Manono area in the Democratic Republic of Congo; The Manono Lithium Tailings Project and the Pegmatite Corridor Exploration Program.This presentation includes certain statements that may be deemed forward looking statements. Investors are cautioned that any such statements are not guarantees of future performance, that the Company expressly disclaims any responsibility for revising or expanding the forward- looking statements to reflect actual results or developments, and that actual results or developments may differ materially from those projected, in the forward-looking statements, except as required by law.For more information, please contact: Eric Allard President & CEO Email: ea@tantalex.ca Website: https://tantalexlithium.com/ Tel: 1-581-996-3007.