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January 17, 2011, VANCOUVER, B.C. – ALIX RESOURCES CORP. (“Alix” or the “Company”) (AIX-TSX:V)(37N – FRANKFURT) is pleased to announce the closing of its private placement (the "Private Placement") announced in a news release dated December 17, 2010. Pursuant to the Private Placement, the Company issued 3,000,000 units (the "Units") at a price of $0.13 per Unit for gross proceeds of $390,000. Each Unit is comprised of one common share (a "Share") and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one Share at a price of $0.20 per Share for a period of 24 months from the date of issuance. If, after four months having elapsed from closing of the Private Placement, the Company'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.
Finders' fees of $10,816 were paid in accordance with the policies of the TSX Venture Exchange.
All securities issued pursuant to the Private Placement are subject to a hold period expiring May 15, 2011.
Alix Resources is a junior exploration company actively seeking mineral opportunities for the benefit of all of its stakeholders.
ON BEHALF OF THE BOARD
Michael England, President, CEO, Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
Toll Free: 1-888-945-4770
Neither the 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.