Alix Resources Corp.

TSX VENTURE : AIX
FRANKFURT : 37N


Alix Resources Corp.

March 31, 2014 06:00 ET

Alix Raises $533,250, Completing one Financing and First Tranche of Another

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 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.

Contact Information

  • Alix Resources Corp.
    Michael England
    President
    1-604-683-3995
    Toll Free: 1-888-945-4770
    www.AlixResources.com