Starrex International Ltd.
CSE : STX
CSE : STX.CN
CNSX : STX
OTCQB : STXMF

Starrex International Ltd.

May 12, 2017 16:05 ET

Starrex Announces Receipt of Full Payment of Note Receivable of US$830,000

TORONTO, ONTARIO--(Marketwired - May 12, 2017) - Starrex International Ltd. ("Starrex" or the "Company") (CSE:STX)(CSE:STX.CN)(CNSX:STX)(OTCQB:STXMF) announces that it has received payment in full (including principal of US$830,000 together with all accrued interest) from the One Force Staffing, Inc. note receivable which had recently fallen into default (see Starrex news release dated April 25, 2017).

Matt Hill, President and CEO, stated, "I am extremely pleased to receive payment of all principal and interest on the One Force note. The satisfaction of this note will significantly increase the cash position of Starrex and better enable the Company to facilitate the execution of its business strategy."

Negotiations are still ongoing with Olympia Capital Management Inc. with a view to trying to resolve the default of that note receivable before Starrex pursues its legal remedies.

Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this press release.

Contact Information

  • Starrex International Ltd.
    Ronald Mann, Secretary,
    Chief Operating Officer and Investor Relations Officer
    (647) 981-2782
    rmann@starrexintl.com