EDITOR: | February 8th, 2017

Alix Closes First Tranche FT Financing and Closes NFT Financing

| February 08, 2017 | No Comments
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February 8, 2017 (Source) — ALIX RESOURCES CORP. (“Alix” or the “Company”) (AIX-TSX:V) (37N–FRANKFURT) announces that further to its news releases dated February 3, 2017, January 31, 2017 and January 24, 2017 it has completed the first tranche of a non-brokered flow through private placement of 2,585,000 units at a price of $0.07 per unit for gross proceeds of $180,950 (the “FT Offering”). Each FT unit consists of one flow through common share (the “Shares”) and one half non-flow through Share purchase warrant of the Company. Each whole warrant will entitle the holder to acquire one Share of the Company at a price of $0.10 per Share for a period of 24 months from the date of issuance.

The Company paid a cash commission to the finders on the FT financing totalling $14,476, issued 129,250 finder’s shares and issued 129,250 finder’s warrants exercisable for 12 months at $0.07. 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 10, 2017.

Additionally the Company has also completed the non-brokered non-flow through private placement of 7,915,000 units at a price of $0.05 per unit for gross proceeds of $395,750 (the “NFT Offering”). Each NFT unit consists of one common share (the “Shares”) 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 $0.10 per Share for a period of 24 months from the date of issuance.

The Company paid a cash commission to the finders on the NFT financing totalling $18,950, issued 171,250 finder’s shares and issued 276,250 finder’s warrants exercisable for 12 months at $0.05. 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 10, 2017.

The Company has received conditional approval for the private placements from the TSX Venture Exchange.

Alix Resources is a junior mining exploration company focused on seeking and acquiring lithium projects globally. Alix continues to evaluate suitable prospects that fit the mandate of the Company.  The Company now has active lithium projects in Mexico, Ontario and Quebec.

ON BEHALF OF THE BOARD

Michael England

                                                                       

Michael England, President, CEO, Director

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.


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