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samex mining corp (SXG) Snapshot

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samex mining corp (SXG) Details

SAMEX Mining Corp., a junior resource company, engages in the acquisition, exploration, and evaluation of mineral properties in South America. It focuses on the exploration of precious and base metals, including copper, gold, silver, and molybdenum. The company holds a 100% interests in the Los Zorros property comprising 67 exploitation mining concessions that covers an area of approximately 8,690 hectares located in the Atacama region of northern Chile; and the Chimberos property consisting of 36 exploitation mining concessions, which covers an area of approximately 2,828 hectares located to the north of the city of Copiapo in Chile. It also holds 100% interests in the INCA property that comprises 61 exploitation mining concessions covering an area of approximately 8,994 hectares located in the Atacama region; and the Espejismo Prospects, which consists of 11 mineral concessions covering an area of approximately 517 hectares in Chile. The company was formerly known as Paragon Resources Ltd. and changed its name to SAMEX Mining Corp. in September 1995. SAMEX Mining Corp. was incorporated in 1967 and is headquartered in Abbotsford, Canada.

19 Employees
Last Reported Date: 09/16/13
Founded in 1967

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samex mining corp (SXG) Key Developments

Samex Mining Corp. To Be Moved From TSX Venture To NEX

In accordance with TSX Venture Policy 2.5, Samex Mining Corp. has not maintained the requirements for a TSX Venture Tier 2 company. Therefore, effective at the opening on January 10, 2014, the company's listing will transfer to NEX, the company's Tier classification will change from Tier 2 to NEX, and the Filing and Service Office will change from Vancouver to NEX. As of January 10, 2014, the company is subject to restrictions on share issuances and certain types of payments as set out in the NEX policies. Further to the Exchange Bulletin dated October 8, 2013, trading in the shares of the company will remain suspended.

Samex Mining Corp.’s Classification To Change From Tier 1 To Tier 2

In accordance with Policy 2.5, Samex Mining Corp. has not met the requirements for a Tier 1 company. Therefore, effective October 9, 2013, the company's Tier classification will change from Tier 1 to Classification Tier 2. Further to the Exchange Bulletin dated September 10, 2013, trading in the shares of the company will remain suspended.

Samex Mining Corp. Announces to Immediately Cease Operations; Announces Management Changes

Samex Mining Corp. announced that despite of the management's efforts, to date, the company has not been able to identify a suitable strategic alternative. Present company operations will immediately cease, and the board and senior management have announced their intentions to resign. For the time being, SAMEX continues to be a reporting issuer and remains in good corporate standing under the BC Business Corporations Act, and has no material debts or liabilities at the parent level. The company also announced the intentions of the board and senior management to resign from the company. Sasan Sadeghpour, Director and Interim Chief Executive Officer intends to resign. Larry McLean, Interim Chief Financial Officer intends to resign. Brenda McLean, Interim Corporate Secretary intends to resign. James Pappas, Director intends to resign. Travis Cocke, Director intends to resign.


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