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Symbol
AIX
Latest
$0.035 +0.000
Volume
71,000
Quote Delayed
Up To 15 Minutes

News Release

ALIX ANNOUNCES FINANCING

August 31, 2010, VANCOUVER, B.C.- ALIX RESOURCES CORP. ("Alix" or the "Company") (AIX-TSX:V) (37N-FRANKFURT) announces it has arranged a non-brokered private placement of up to 6 million units at a price of $0.13 per unit for gross proceeds of up to $780,000.

Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase an additional share at a price of $0.20 per share for 24 months. The warrants issued with the units sold will be subject to an acceleration provision. After four months have elapsed from closing, if Alix’s shares trade above $0.40 for 20 consecutive trading days, the Company has the option to provide notice to the warrant holders that their warrants will expire if they are not exercised within 30 days.  

The proceeds from the private placement will be used for general working capital and potential acquisitions.

Finder's fees may be payable on the private placement.

The private placement is subject to the acceptance for filing of the TSX Venture Exchange.

Alix Resources is a junior exploration company actively seeking mineral and energy opportunities for the benefit of all its stakeholders. For further information we invite you to visit us at www.alixresources.com.

ON BEHALF OF THE BOARD

Michael England, President

FOR FURTHER INFORMATION PLEASE CONTACT:

Telephone: 1-604-683-3995

Toll Free: 1-888-945-4770

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Alix

Local
604-683-3995
Toll-Free
1-888-945-4770
Fax
604-683-3988
Email
info@alixresources.com