Alix Resources Corporation Announces Consolidation
Vancouver - Alix Resources Corp. (“Alix” or the “Company”) (AIX-TSX:V) (37N–FRANKFURT) announces a proposed consolidation (the “Consolidation”) of its common shares (the "Shares") on the basis of four (4) existing Shares for one (1) new Share. Currently, a total of 72,473,191 Shares are issued and outstanding. Accordingly, if put into effect on the basis of four (4) existing Shares for one (1) new Share, a total of 18,118,298 Shares would be issued and outstanding following the Consolidation, assuming no other change in the issued capital.According to the Company's Articles, the board of directors of the Company has the ability to approve the Consolidation and the board of directors believes it is in the best interest of the Company to approve the Consolidation. The Consolidation will increase the Company’s flexibility and competitiveness in the market place and make the Company’s securities more attractive to a wider audience of potential investors, thereby resulting in a more efficient market for its Shares.
The Consolidation will affect all shareholders of the Company uniformly and affect all of the Company’s stock options and warrants issued and outstanding at the effective date. At the time of the Consolidation, the number, exchange basis or exercise price of all stock options and warrants issued and outstanding will be adjusted to reflect the Consolidation. The actual adjustment will be made by the Company in consultation with its advisors.
The Consolidation is subject to the acceptance of the TSX Venture Exchange.
Alix Resources is a junior mining exploration company focussed on seeking and acquiring world class lithium projects globally. Alix continues to evaluate suitable prospects that fit the mandate of the Company.
ON BEHALF OF THE BOARD
“Michael England”
Michael England, President, CEO, Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770
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 this release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).
Source: Alix Resources Corp. (TSX Venture:AIX, FWB:37N)