Alix Raises $533,250, Completing one Financing and First Tranche of Another
March 31 2014 - 6:00AM
Marketwired
Alix Raises $533,250, Completing one Financing and First Tranche of
Another
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 31, 2014) - ALIX
RESOURCES CORP. ("Alix" or the "Company") (TSX-VENTURE:AIX)
(FRANKFURT:37N) announces that, further to its news release dated
February 14, 2014, the Company has completed the first tranche of
its non-brokered non-flow-through private placement of 5,665,000
units (the "NFT units") at a price of $0.05 per NFT unit for gross
proceeds of $283,250 (the "NFT Offering").
Alix also announces that, further to its news release dated
March 13, 2014, the Company has completed its non-brokered
flow-through private placement of 5,000,000 flow-through units (the
"FT units") at a price of $0.05 per FT unit for gross proceeds of
$250,000 (the "FT Offering"). The $250,000 raised from the
flow-through financing will be used for exploration expenditures at
the company's North Cap East, North Cap West, Hackett North and
Sheslay South Fork projects in the Sheslay Valley district of
northwest British Columbia. An initial work program is commencing
immediately.
Mike England, President and CEO of Alix, stated: "Alix has made
a very strategic move into this rapidly emerging Cu-Au porphyry
district in the Sheslay Valley where our exploration targets also
include epithermal gold deposits. The coming months are going to be
very active for Alix as we currently hold the second-largest land
position among junior exploration companies in this exciting
district. We wish to remind investors that our newly-acquired
Hackett North claims are contiguous to the eastern boundary of
Doubleview Capital's Hat Property where drilling is now re-starting
(see DBV news release March 27, 2014) after the announcement in
late January of a significant discovery at the Hat."
Alix Non-Flow-Through Private Placement
Each NFT unit comprises one common share (a "share") and one
common share purchase warrant (a "warrant") of the Company. Each
warrant will entitle the holder to purchase one share (a "NFT
warrant share") at a price of $0.06 per NFT warrant share until
March 28, 2015.
The Company issued to a finder under the NFT Offering a total of
400,000 warrants to purchase up to 400,000 shares at a price of
$0.06 per share for a period of 12 months. In addition, the Company
issued to the finder 400,000 finder's units (the "finder's units")
in lieu of a cash commission in the amount of $20,000 that would
otherwise be payable. Each finder's unit comprises one share (the
"finder's shares") of the Company and one warrant (the "finder's
warrants"). Each finder's warrant shall entitle the holder thereof
to purchase one share (the "finder's warrant shares") of the
Company at a price of $0.06 per finder's warrant share for a period
of one year.
Alix Flow-Through Private Placement
Each FT unit comprises one share and one warrant of the Company.
Each warrant will entitle the holder to purchase one share (a "FT
warrant share") at a price of $0.075 per FT warrant share until
September 28, 2015.
The Company issued to a finder under the FT Offering a total of
340,000 warrants to purchase up to 340,000 shares at a price of
$0.075 per share for a period of 18 months. In addition, the
Company paid a cash commission to the finder in the amount of
$17,000.
Private Placement Hold Periods
All securities issued pursuant to the NFT Offering and FT
Offering are subject to a hold period expiring July 29, 2014.
About Alix Resources Corp.
Alix is a junior exploration company actively seeking mineral
opportunities for the benefit of all of our stakeholders. For
further information we invite you to visit our web site at
www.AlixResources.com.
ON BEHALF OF THE BOARD
Michael England, President
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.
Alix Resources Corp.Michael EnglandPresident1-604-683-3995Toll
Free: 1-888-945-4770www.AlixResources.com