Fieldex Exploration Announces Closing of $100,000 Private Placement

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ROUYN-NORANDA, QC, July 9, 2020 /CNW Telbec/ - Fieldex Exploration Inc. (TSXV: FLX) (Frankfurt: F7E1) ("Fieldex")  is pleased to announce that it has completed a private placement by issuing 1,000,000 "flow-through" units to two strategic investors at a price of $0.10 per unit, for gross proceeds to Fieldex of $100,000.  Each of the units is comprised of one "flow-through" common share and one common share purchase warrant.  Each warrant will entitle the holder to acquire one additional common share of Fieldex at a price of $0.15 until July 9, 2021.

Fieldex will use the proceeds from the private placement for exploration on certain of its properties in Québec.

As a result of the closing of the private placement, there are 33,937,040 common shares of Fieldex issued and outstanding on a non-diluted basis. Under applicable securities legislation and the policies of the TSX Venture Exchange, the securities issued in the private placement are subject to a four-month hold period, expiring on November 10, 2020.

About Fieldex

Fieldex is a mineral resource company actively exploring in Québec on acquiring and exploring precious metals deposits located in the province of Québec.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.

SOURCE Fieldex Exploration Inc.