ALIX ANNOUNCES DEBT SETTLEMENT
July 22nd, 2014, VANCOUVER, B.C. – ALIX RESOURCES CORP. (“Alix” or the “Company”) (AIX-TSX:V) (37N–FRANKFURT) announces that it has reached a settlement agreement with Core One Drilling Inc. ("Core One") with respect to indebtedness owing by the Company to Core One for past services rendered.
In settlement of such debt, the Company will, among other things, pay Core One US $15,000 in cash and issue 5.4 million common shares. The shares will be subject to a four month hold period commencing from issuance. If, after the four month hold period has expired and up to a maximum of six months from issuance, Core One sells the shares and does not receive an average price of $0.025 per share, the Company will be obligated to pay Core One the difference in amount between the sale price of such shares and $0.025 per share. Issuance of the shares remains subject to the Company receiving all necessary prior approvals from the TSX Venture Exchange.
Alix Resources is a junior exploration company actively seeking mineral opportunities for the benefit of all our 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:
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.Back to Past News