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February 10th, 2016, Vancouver, BC, Canada – ALIX RESOURCES CORP. (“Alix” or the “Company”) (AIX-TSX:V) (37N–FRANKFURT) announces that it has arranged a non-brokered private placement of up to four million units ("Units") at a price of $0.05 per Unit for aggregate gross proceeds of $200,000 (the "Offering"). Each Unit will be comprised of one common share ("Share") and one Share purchase warrant of the Company (a "Warrant"). Each Warrant entitles the holder to purchase an additional Share at a price of $0.075 per Share for a period of 12 months. Proceeds from the Offering will be used for general working capital and to advance the Company’s Lithium concessions located in Sonora, Mexico.
Finder's fees may be payable on the private placement, subject to the policies of the TSX Venture Exchange.
This Offering is subject to TSX Venture Exchange acceptance.
The Company further announces that it has settled a total of $80,000.00 of debt (the "Debt") with a non-arm’s length creditor in the amount of $50,000 and an arm's length creditor in the amount of $30,000.00 (the "Debt Settlement"). The Company has settled the Debt by issuing an aggregate of 1,600,000 Shares at a deemed price of $0.05 per Share to the creditors.
The debt Settlement has been approved by the board of directors and has received approval from the TSX Venture Exchange.
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.