Alix Resources completes $25,000 final tranche

2013-02-07 16:44 ET - News Release

 

Mr. Michael England reports

ALIX ANNOUNCES CLOSING OF FINAL TRANCHE OF PRIVATE PLACEMENT OFFERING

Alix Resources Corp., further to its news releases dated Jan. 9, 2013, and Jan. 25, 2013, has completed the final tranche of a non-brokered private placement of 500,000 units at a price of five cents per unit for gross proceeds of $25,000.

Each unit consists of one common share and one share purchase warrant of the company. Each warrant will entitle the holder to acquire one share of the company at a price of eight cents per share for the first 12 months and 10 cents per Share for the following 12 months from the date of issuance.

The company paid a cash commission to the finder totalling $2,500.

The shares and warrants issued pursuant to the private placement and any shares issued on exercise of the warrants are subject to four-month resale restriction that expires on June 7, 2013.

The proceeds raised will be used for general working capital.