TIEX Inc.
TSX VENTURE : TIX.P

June 05, 2007 15:05 ET

TIEX Inc. Announces Financing and Refiling 2006 Audited Financial Statements

CALGARY, ALBERTA--(Marketwire - June 5, 2007) - TIEX Inc. (TSX VENTURE:TIX.P) (the "Corporation" or "TIEX"), a Capital Pool Company, is pleased to announce, further to its news release dated April 3, 2007, that the Corporation intends to raise a maximum of $2,000,000 by way of short form offering ("Offering") of units ("Units"). Wolverton Securities Ltd. ("Wolverton") will act as Agent for the Offering on a "commercially reasonable efforts" basis. Each Unit will consist of one common share and one half of one share purchase warrant ("Share Purchase Warrant"), exercisable for a period of two years from the closing. It is anticipated that the price per Unit will be $0.45 and the exercise price of each whole Share Purchase Warrant will be $0.70 for the entire term. The Offering is to be closed concurrently with the closing of the acquisition of Bullion Gold Corp. by the Corporation as announced on April 3, 2007.

As consideration for acting as agent for the Offering, Wolverton will be paid a corporate finance fee of $27,000 plus expenses and a cash commission equal to 8.0% of gross proceeds received by the Corporation. In addition, Wolverton will receive options to purchase up to 10% of the number of Units sold under the Offering, exercisable on the same terms as the Units, for a period of 24 months from the date of closing of the Offering.

The Corporation has also refiled its 2006 audited financial statements in which the auditor's report has been amended so that it is addressed to the Shareholders of Tiex Inc. instead to the Directors of Tiex Inc. There has been no change to the content of the financial statements themselves.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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