Alix Increases Financing
February 3, 2017 (Source) — ALIX RESOURCES CORP. (“Alix” or the “Company”) (AIX-TSX:V) (37N–FRANKFURT) announces that it has increased the amount of the non-brokered private placement of up to 5 million units (“Units”) at a price of $0.05 per Unit for aggregate gross proceeds of $250,000 (the “Offering”) announced January 31, 2017 to 7 million units for aggregate gross proceeds of up to $350,000 (the “Offering”). Each Unit will be comprised of one common share (“Share”) and one transferable Share purchase warrant of the Company (“Warrant”). Each warrant entitles the holder to purchase an additional share at a price of $0.10 per share for a period of 24 months from the date of closing.
Use of proceeds from the financing will include further advancement of the Company’s Jackpot Lithium Project in Ontario as well as for general working capital. There are no material facts or material changes not generally disclosed.
Finders’ fees will be payable on the private placement, subject to the policies of the TSX Venture Exchange.
The increase to the private placement is subject to TSX Venture Exchange acceptance.
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
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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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