Pershimex Resources Corporation Completes a Private Placement of $800,000 With a Lead Order from Palisades Goldcorp

ROUYN-NORANDA, Quebec, Aug. 13, 2020 (GLOBE NEWSWIRE) -- Pershimex Resources Corporation ("Pershimex" or the "Corporation") (TSX VENTURE: PRO) is pleased to announce the closing of a non-brokered private placement of $800,000, with a lead order from Palisades Goldcorp Inc. (the "Private Placement"). Each of the 11,428,572 Units offered at a price of $0.07 per Unit consists of one common share of the Corporation and one common share purchase warrant. Each warrant grants its holder the right to purchase, for a period of 36 months from the closing date, one common share of the Corporation at an exercise price of $ 0.14.

As part of the private placement, finder's fees of $56,000 were paid and 800,000 warrants were issued to an intermediary dealing arm’ length with the Corporation. Each warrant grants the right to purchase, for a period of 36 months from the closing date, one common share of the Corporation at an exercise price of $ 0.14.

The securities issued pursuant to the Private Placement are subject to a hold period of four months and a day, ending December 14, 2020.  The Private Placement is subject to the final approval of the TSX Venture Exchange.

Palisades Goldcorp Inc.

Palisades Goldcorp is Canada's new resource focused merchant bank. Palisades' management team has a demonstrated track record of making money and is backed by many of the industry's most notable financiers. With junior resource equities valued at generational lows, management believes the sector is on the cusp of a major bull market move. Palisades is positioning itself with significant stakes in undervalued companies and assets with the goal of generating superior returns.

Pershimex Resources Corporation - Quick Overview

• Strategic positioning in Abitibi-Témiscamingue with more than 800 claims.
• Owns 100% of the mining rights on the Courville property.
• Partnership with Dundee Precious Metals on the Malartic property.

This press release was prepared by Robert Gagnon, professional geologist, President of Pershimex, a qualified person under Regulation 43-101.

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