Donald Crossley

May 17, 2013 19:06 ET

Donald Crossley: Shareholder News Release

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 17, 2013) - Donald Crossley ("Mr. Crossley"), filed an early warning report dated May 17, 2013 (the "Early Warning Report") advising of his holdings in Mannix Resources Inc. ("Mannix" or the "Company").

On May 17, 2013, Mr. Crossley acquired beneficial ownership and control of 2,350,000 common shares (the "Shares") of the Company at a deemed price of $0.05 per share pursuant to a debt settlement agreement between Mr. Crossley and the Company (the "Transaction"). Following the completion of the Transaction, Mr. Crossley beneficially owns and controls 2,351,218 common shares of the Company, representing approximately 25.1% of the issued and outstanding common shares of the Company.

The Shares issued to Mr. Crossley under the Transaction were exempted from the prospectus requirement under the friends, family and business associates exemption set out in section 2.5 of National Instrument 45-106 - Prospectus and Registration Exemptions.

Pursuant to the Transaction, Mr. Crossley entered into a debt settlement agreement with the Company (the "Debt Settlement Agreement"). A summary of the Debt Settlement Agreement and the Transaction is contained in the Company's news release dated May 17, 2013 which is available under the Company's profile on SEDAR at www.sedar.com.

The common shares of the Company are currently not listed on any exchange. Mr. Crossley acquired the Shares for investment purposes. In pursuing such purposes, Mr. Crossley takes a long term view of the investment and reserves the right to formulate other plans or make other proposals, and take such actions with respect to its investment in the Company. Mr. Crossley may at any time reconsider and change its plans or proposals relating to the foregoing. No person acted jointly or in concert with Mr. Crossley in making this acquisition.

This news release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which the Company is a reporting issuer containing additional information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report will appear with the Company's documents on the SEDAR website at www.sedar.com. A copy of the Early Warning Report may also be obtained by contacting Donald Crossley at 604-669-3610.

DONALD CROSSLEY

Contact Information

  • Donald Crossley
    604-669-3610