Alix Closes Second and Final Tranche FT Financing
March 6, 2017 (Source) — ALIX RESOURCES CORP. (“Alix” or the “Company”) (AIX-TSX:V) (37N–FRANKFURT) announces that further to its news releases dated February 8, 2017, February 3, 2017, January 31, 2017 and January 24, 2017 it has completed the second and final tranche of a non-brokered flow through private placement. The total raised in the FT financing for the two tranches was 3,550,000 units for total gross proceeds of $248,500.00. 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 two Tranches of the FT financing totalling $19,916, issued 157,500 finder’s shares and issued 177,500 finder’s warrants exercisable for 12 months at $0.07.
The Shares and warrants issued pursuant to the second tranche of the FT private placement and any Shares issued on exercise of the warrants are subject to four-month resale restriction that expires on July 7, 2017.
The Company has received conditional approval for the private placements from the TSX Venture Exchange.
The proceeds raised from the FT financing will be used to advance the Company’s Quebec lithium properties.
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.
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ON BEHALF OF THE BOARD
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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