PJX Resources Inc. (TSXV:PJX) announced a new non-brokered private placement along with exploration updates from its Eddy and Zinger properties. The gross proceeds from the placement will be used for exploration on the Company’s British Columbian properties in 2013.
As quoted in the press release:
The proceeds from the Offering will be used by the Company to incur exploration expenditures on the Company’s properties in British Columbia (the “Properties”). Such exploration expenditures on the Properties will constitute “Canadian exploration expenses” and “flow through mining expenditures” as defined in the Tax Act which can be renounced to purchasers of the FT Units for the 2012 taxation year.