P. Garrett Clayton

July 09, 2014 18:10 ET

Philip Garrett Clayton Announces Acquisition of Additional Starrex Securities

TORONTO, ONTARIO--(Marketwired - July 9, 2014) - Mr. Philip Garrett Clayton announces that he has acquired, indirectly through an entity controlled by him, (together with Mr. Clayton, or either of them, individually, the "Offeror"), an additional 424,837 common shares (the "Common Shares") in the capital of Starrex International Ltd. ("Starrex") at a price of $0.50 per Common Share, representing 3.06% of the issued and outstanding Common Shares following the closing by Starrex of the private placement which gave rise to this announcement.

As a result of this acquisition, the Offeror now owns or controls 2,558,173 Common Shares representing approximately 18.43% of the issued and outstanding Common Shares and 225,000 stock options that, if exercised, would represent approximately 1.62% of the issued and outstanding Common Shares.

The Offeror has acquired the securities for investment purposes and has no present intention of acquiring additional securities of Starrex. Depending upon his evaluation of the business, prospects and financial condition of Starrex, the market for Starrex's securities, general economic and tax conditions and other factors, the Offeror may acquire more or sell some or all of his securities of Starrex.

The Offeror relies on the exemption in Rule 501(a) of Regulation D of the US Securities Act.

To obtain a copy of the corresponding early warning report required by securities legislation, please contact Mr. Philip Garrett Clayton, by phone at (713) 425-3065 or by email at gclayton@amcap1.com.

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