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ALIX CLOSES FINAL TRANCHE OF PRIVATE PLACEMENT/
HIRES CONTACT FINANCIAL FOR INVESTOR RELATIONS SERVICES
May 26, 2008, VANCOUVER, B.C. – ALIX RESOURCES CORP. (“Alix” or the “Company”) (AIX-TSX:V) (37N – FRANKFURT) announces that it has closed the third and final tranche of its non-brokered private placement, previously announced on April 16, 2008, May 13, 2008 and May 14, 2008.
3,515,500 non flow-though units (“NFT Units”) totaling $703,100.00 and 97,000 flow-through units (“FT Units”) totaling $29,100 were sold in this final tranche closing. Each NFT Unit was sold at a price of $0.20 per Unit and consists of one common share and one half of one common share purchase warrant. Each FT Unit was sold at a price of $0.30 per Unit and consists of one flow-through common share and one half of one common share purchase warrant. In both cases, each whole warrant, will entitle the holder to purchase one common share for a period of 12 months from the date of closing at a price of $0.30 per common share.
In connection with the closing of this final tranche, the Company has paid cash finder’s fees totaling $36,340 and has issued 252,875 brokers warrants (the “Broker’s Warrants”). Each Broker’s Warrant entitles the holder to purchase one common share for a period of 12 months from the closing date at a price of $0.25 per share. All securities issued under this private placement, including shares issued on the exercise of warrants, are subject to a four month hold period expiring on September 23, 2008.
The proceeds of the private placement will be used to fund various drilling programs on the properties held by the Company as well as for general working capital.
Alix also announces that it has retained Contact Financial Corporation to provide investor relations services for the Company.
Alix will pay Contact a monthly fee of $8,000 and issue 250,000 incentive stock options to Contact. The options have been granted pursuant to the Company’s stock option plan and the rules of the TSX Venture Exchange. The options will have an exercise price of $0.25 per share for a period of five years and will vest in equal amounts on a semi-annual basis over 18 months.
For further information we invite you to visit us at www.alixresources.com.
Alix is a junior mineral exploration company focused on acquiring potential world class properties in North America.