Prominex Resource Announces Revocation of Cease Trade Order

Toronto, Ontario--(Newsfile Corp. - February 19, 2020) - Prominex Resource Corp. ("Prominex" or the "Company") is pleased to announce that effective February 18, 2020 (the "Effective Date"), the British Columbia Securities Commission the "BCSC") has issued an order revoking its cease trade order, originally issued in respect of the securities of the Company on September 10, 2015.

On January 31, 2020, the Company filed (i) its audited annual financial statements, annual management's discussion and analysis, and related certifications for the years ended April 30, 2018 and 2019, and (ii) its unaudited interim financial statements and the related management's discussion and analysis for the interim periods ended January 31, 2019, April 30, 2019, July 31, 2019 and related certificates (collectively, the "Financial Disclosure Documents"). The Financial Disclosure Documents are available for review online under the Company's profile on SEDAR (www.sedar.com). Following the filing of the Financial Disclosure Documents, the Company is up-to-date with its continuous disclosure obligations.

In connection with the Company's applications for the revocation of the cease trade order, the Company provided an undertaking to the BCSC that it would hold an annual meeting of shareholders of the Company within three months of the Effective Date. The Company has met all other conditions required by the BCSC for revocation of the cease trade order.

About Prominex

The Company has ceased to carry on an active business and is presently engaged in identifying and evaluating potential business opportunities.

On behalf of the Board of Directors

Michael Lerner
Chief Executive Officer & Director
T: 416 710-4906
E: mlerner10@gmail.com

Cautionary Statements

This press release may contain forward-looking statements including, but not limited to, comments regarding the timing of the annual meeting of shareholders of the Company. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statement.

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