February 26, 2008 17:45 ET

Tiex Inc. Announces Loan to Bullion Gold Corp.

CALGARY, ALBERTA--(Marketwire - Feb. 26, 2008) - Tiex Inc. (TSX VENTURE:TIX.P) (the "Corporation"), a capital pool company, announces that, further to its news release dated February 14, 2008 with regard to entering into a new letter agreement (the "New Letter Agreement") dated February 7, 2008 with Bullion Gold Corp. ("Bullion Gold"), Tiex agrees to advance to Bullion Gold, subject to the provisions of the policies of the TSX Venture Exchange, a loan (the "Loan") in the amount of $25,000 upon the execution of the New Letter Agreement and in the amount of $75,000 upon the execution of a formal agreement. The Loan shall be repayable on demand with interest calculated from the date of advance of the Loan at a rate of 5% per annum. The repayment of the Loan and interest is to be secured by way of a general security agreement and a specific security agreement against Bullion Gold's mining claims. If the obligations of the parties are terminated pursuant to the New Letter Agreement, or if upon execution of the formal agreement, the obligations of the parties thereto are thereafter terminated, and demand for payment shall not be made until the expiration of two months following such termination.

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

Contact Information

  • Tiex Inc.
    Ray Gertz
    President and CEO
    (403) 279-1982
    (403) 228-3013 (FAX)
    Email: ray@asmindustries.com
    Bullion Gold Corp.
    Ernie Bergvinson
    (250) 869-1607
    (250) 868-0798 (FAX)
    Email: toernie@shaw.ca