Solex Resources Corp. Announces Extension of
Non-Brokered Private Placement
VANCOUVER,
July 3 - Solex Resources Corp. (TSX-V: SOX)
("Solex" or the "Company") today announced an extension of
the previously announced 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 21, 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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