The Board of Directors of Philex Mining Corporation ("PX" or the "Company") approved the conduct of a Stock Rights Offering ("SRO") of common shares to be issued from the Company's unissued authorized capital stock. The Company intends to use the proceeds from the Stock Rights Offer for investment in Silangan Mindanao Mining Co., Inc. through Silangan Mindanao Exploration Co., Inc. for the capital expenditures and development cost of the Silangan Project. Please refer to the relevant disclosures of the Company on the following dates: 1. C07343-2021 dated November 4, 2021;
2. C00583-2022 dated February 2, 2022; and
3. C04603-2022 dated June 22, 2022. The Exchange approved the application of the Company for the listing of up to 842,000,000 common shares ("Right Shares"), with a par value of Php1.00 per share, to cover its SRO to all stockholders as of the proposed record date, at an Offer Price of Php 3.15 to Php 4.81 per Offer Share. The Exchange's approval of the listing of the Right Shares is subject to the Company's compliance with all applicable requirements and post-approval conditions of the Exchange. The Exchange will accordingly announce any developments on the Company's listing application. This Notice is being amended to update the start of the Company's Offer Period from July 14, 2022 to July 12, 2022. For your information and guidance. | 