PANEX RESOURCES INC. (OTCMKTS:DBGF) Files An 8-K Changes in Registrant’s Certifying Accountant

PANEX RESOURCES INC. (OTCMKTS:DBGF) Files An 8-K Changes in Registrant’s Certifying Accountant

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Item 4.01 Changes in Registrants Certifying Accountant

(a) Previous independent registered public accounting
firm
(i) On December 9, 2016, Panex Resources Inc., (the Company)
received a letter from its independent registered public
accounting firm GHP Horwath P.C., that it will not stand for
re-appointment.
(ii) The reports of GHP Horwath P.C. on the Companys consolidated
financial statements as of and for the fiscal years ended
August 31 2016 and 2015 contained no adverse opinion or
disclaimer of opinion and were not qualified or modified as
to uncertainty, audit scope or accounting principle except to
indicate that there was substantial doubt about the Company
ability to continue as a going concern.
(iii) During the fiscal years ended August 31, 2016 and 2015 and
for the period subsequent to August 31, 2016 through December
9, 2016 there have been no disagreements with GHP Horwath
P.C. on any matter of accounting principles or practices,
financial statement disclosure or auditing scope or
procedure, which disagreements if not resolved to the
satisfaction of GHP Horwath P.C. would have caused them to
make reference thereto in connection with their report on the
financial statements for such years.
(iv) During the past two fiscal years ended August 31, 2016 and
August 31, 2015 and for the period subsequent to August 31,
2016 through December 9, 2016, there was one reportable event
within the meaning of Item 304(a)(1)(v) of Regulation S-K,
relating to disclosure of material weaknesses in the Companys
internal control over financial reporting. As previously
reported, the following control deficiencies were identified
that represent a material weakness as follows: (1) lack of a
functioning audit committee and lack of a majority of outside
directors on Panexs board of directors, resulting in
ineffective oversight in the establishment and monitoring of
required internal controls and procedures; (2) inadequate
segregation of duties consistent with control objectives; (3)
insufficient written policies and procedures for accounting
and financial reporting with respect to the requirements and
application of US GAAP and SEC disclosure requirements; and
(4) ineffective controls over period end financial disclosure
and reporting processes.
(b) New independent registered public accounting firm
(i) On December 28, 2016 the Company engaged DMCL Chartered
Professional Accountants LLP as its new independent
registered public accounting firm. During the three most
recent fiscal years and through December 23, 2016, the
Company had not consulted with DMCL Chartered Professional
Accountants, LLP regarding any of the following:
(ii) The application of accounting principles to a specific
transaction, either completed or proposed;
(iii) The type of audit opinion that might be rendered on the
Companys consolidated financial statements, and none of the
following was provided to the Company:(a) a written report,
or (b) oral advice that DMCL Chartered Professional
Accountants LLP concluded was an important factor considered
by the Company in reaching a decision as to accounting,
auditing or financial reporting issue; or
(iv) Any matter that was subject of a disagreement, as that term
is defined in Item 304(a)(1)(iv) of Regulation S-K.

Item 9.01 Financial Statements and
Exhibits

16.1 Letter from GHP Horwath P.C. to the SEC
16.2 Letter from GHP Horwath P.C. to the SEC re Form 8k


About PANEX RESOURCES INC. (OTCMKTS:DBGF)

Panex Resources Inc. is an exploration-stage company. The Company is engaged in the acquisition and exploration of mineral properties. It has no interest in any mineral resources or properties, and is identifying and assessing viable mineral properties or mineral projects. It focuses on conducting mineral exploration activities on mineral properties in order to assess whether claims possess commercially exploitable mineral deposits. The Company is performing a due diligence of a gold exploration project at Matala, in South Kivu Province, Democratic Republic of Congo. The Matala Gold Project is located on the north-western edge of the Kibaran mobile belt. The Matala Gold Project comprises over 10 exploration tenements for over 1,970 square kilometers located in the South Kivu Province, Democratic Republic of Congo. It intends to explore for deposits of base and precious minerals, such as gold, silver, lead, barium, mercury, copper and zinc minerals. It has not generated any revenues.

PANEX RESOURCES INC. (OTCMKTS:DBGF) Recent Trading Information

PANEX RESOURCES INC. (OTCMKTS:DBGF) closed its last trading session 00.00000 at 0.00180 with 52,800 shares trading hands.

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