SGX Resources Inc.
TSX VENTURE : SXR

SGX Resources Inc.

July 11, 2012 16:01 ET

SGX Resources Inc. Announces Application to Amend Warrant Terms

WINNIPEG, MANITOBA--(Marketwire - July 11, 2012) -

THIS PRESS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES.

Dale Ginn, CEO of SGX Resources Inc. ("SGX") (TSX VENTURE:SXR), announced today that SGX intends to make an application to the TSX Venture Exchange (the "Exchange") to extend the maturity date of the outstanding common share purchase warrants of SGX (the "Warrants") issued on December 30, 2010 pursuant to a private placement offering (the "Private Placement").

Pursuant to the Private Placement, 788,650 units were issued. Each unit consisted of nine common shares issued as "flow-through shares" within the meaning of the Income Tax Act (Canada), one regular common share and five Warrants. 125,405 Warrants have been exercised to date. Accordingly, there are 3,817,845 Warrants currently issued and outstanding. Each Warrant entitles the holder to purchase one common share at a price of $0.45 until July 20, 2012.

SGX will apply to the Exchange to extend the maturity date of the Warrants to December 31, 2012. All other terms and conditions of the Warrants will remain unchanged. SGX anticipates receiving the decision of the Exchange regarding the extension of the term of the Warrants within the next few days and will issue a press release upon receipt of the decision of the Exchange.

The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied in the forward-looking information.

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 the contents of this News Release.

Contact Information

  • SGX Resources Inc.
    Dale Ginn
    204-794-5818

    SGX Resources Inc.
    Investor Relations
    1-888-749-4621
    www.sgxresources.com