Tirex Resources Completes Private Placement
March 05 2013 - 4:04PM
Marketwired Canada
Tirex Resources Ltd. (TSX VENTURE:TXX)(OTCQX:TIRXF) ("Tirex") is pleased to
announce that the private placement announced on February 20, 2013 and March 1,
2013 has closed and the company has issued 6,238,192 shares at $0.50 per share
for total gross proceeds to Tirex of $3,119,096. No warrants were issued in
connection with the financing.
Tirex Chief Executive Officer, Bryan Slusarchuk, states, "To complete a straight
share financing for more than $3 million in this difficult overall market
environment is a testament to the quality work our technical team in Albania is
doing, and speaks highly to the merits of the project. Thank you to all
shareholders for your continued strong support as we advance our projects in the
Mirdita VMS District."
While headquartered in British Columbia, Canada, Tirex trades actively in the
United States (TIRXF) and Germany (3TI) in addition to the company's Canadian
listing (TXX).
Finder's fees payable in connection with this financing are $108,328 and 270,819
finder's warrants exercisable for 2 years at $0.50 per share. The company has
also issued 70,000 shares pursuant to a shares for services agreement previously
accepted by the Exchange and previously announced. All shares issued are subject
to resale restrictions expiring 4 months from the date of issue.
On Behalf of Management,
Bryan J. Slusarchuk, Chief Executive Officer
Forward-Looking Statements. This News Release may contain certain
"forward-looking" statements and information relating to Tirex. Such statements
include but are not limited to statements about the exploitation licenses, the
Partnership Agreement, the production arrangements and the timing of mine
development, and production. Often forward-looking statements or information
include words such as "plans", expects", "intends", "anticipates", "estimates"
"forecasts", or variations of such words and phrases or statements that certain
actions, events or results "may", "could", "would", "might" or will be taken
occur or be achieved. Although forward-looking statements and information
contained in this release are based on the beliefs of Tirex management, which
are considered to be reasonable, as well as assumptions made by and information
currently available to Tirex management, there is no assurance that the
forward-looking statements or information will prove to be accurate. The
forward-looking statements and information contained in this release are subject
to current risks, uncertainties and assumptions related to certain factors
including, without limitations, obtaining all necessary approvals, feasibility
of mine and plant development, exploration and development risks, expenditure
and financing requirements, title matters, operating hazards, metal prices,
political and economic factors, competitive factors, general economic
conditions, relationships with vendors and strategic partners, governmental
regulation and supervision, seasonality, technological change, industry
practices, and one-time events as well as risks, uncertainties and other factors
discussed in our quarterly and annual and interim management's discussion and
analysis. In addition, a feasibility study has not been completed and there is
no certainty the proposed operation will be economically viable. Should any one
or more of these risks or uncertainties materialize or change, or should any
underlying assumptions prove incorrect, actual results may vary materially from
the forward-looking statements and information described herein. Accordingly,
readers should not place undue reliance on forward-looking statements and
information contained in this release. We undertake no obligation to update
forward-looking statements or information except as required by law.
FOR FURTHER INFORMATION PLEASE CONTACT:
Tirex Resources Ltd.
700 - 510 West Hastings Street
Vancouver, B.C., Canada V6B 1L8
604-687-7160
604-608-9110 (FAX)
info@TirexResources.com
www.TirexResources.com
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