Solex Resources Corp. Announces Non-Brokered Private
Placement
VANCOUVER,
June 22 - Solex Resources
Corp. (TSX-V: SOX) ("Solex"
or the "Company") today announced an offering of up to 15,000,000 units ("Units") on a private placement
basis at a price of $0.15 per Unit to raise gross proceeds of $2,250,000
("the Offering"). Each Unit will consist of one common share
("Common Share") and one Common Share purchase warrant
("Warrant"). Each full Warrant will entitle the holder to purchase
one Common Share of the Company for a period of 24 months at a price of $0.20
per Common Share. In the event that the 20 day volume weighted average price of
the Company's Common Shares exceeds $0.35, the Company can request the
immediate exercise of those Warrants by giving notice to the holders. Any
Warrants not exercised will expire at that time.
Proceeds from the private placement will
be used for resource delineation and exploration on the Company's Macusani uranium properties in Peru
and for general working capital requirements.
The Offering is scheduled to close on or
before July 3, 2009. The securities issued pursuant to the private placement
will be subject to a four month hold period and the Offering will be subject to
all regulatory approvals.
The Company may pay finder's fees equal to
7% in cash and 7% in broker's warrants to those persons authorised to receive
such fee.
About Solex Resources Corp.
Solex Resources Corp. is the dominant landholder in southern Peru's
Macusani Uranium District with concessions covering
over 904 km(2). The Company is also exploring its two
other 100% owned Macusani uranium projects (West and
South), and proximal Picotani uranium project. NI
43-101 reports were filed during 2008 on the Princesa
silver, lead and zinc property and on the Pilunani
lead and zinc project.
Neither 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.
This
news release may contain forward-looking statements that are based on Solex's expectations, estimates and projections regarding
its business and the economic environment in which it operates. These
statements are not guarantees of future performance and involve risks and
uncertainties that are difficult to control or predict. Therefore, actual
outcomes and results may differ materially from those expressed in these
forward-looking statements and readers should not place undue reliance on such
statements. Statements speak only as of the date on which they are made, and
the Company undertakes no obligation to update them publicly to reflect new
information or the occurrence of future events or circumstances, unless
otherwise required to do so by law.
For
further information:
Deborah Thiel
Corporate Development
Cell: (604) 512-9691
Toll Free: 1-877-646-4488
Email: dthiel@solexresources.com
Website: www.solexresources.com
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