Solex Resources Corp. Announces Further Extension to Non-Brokered Private Placement Closing
Company Reviewing Strategic Alternatives
VANCOUVER, July 21 - Solex Resources Corp. (TSX-V: SOX) ("Solex" or the "Company") today announced that 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") which was due to close on July 21st will be extended.
The Company has initiated a process to consider and respond to various strategic opportunities which may be available to the Company. The review was precipitated by the receipt of an unsolicited third party offer to subscribe for the full amount of the placement with the intention to negotiate a business combination of the two parties. The Board of Directors of Solex Resources has formed a Special Committee of independent directors to review and consider this offer and alternative ways of maximising value for the shareholders. The Company emphasized that there can be no assurance that any transaction or other alternative will ultimately be completed.
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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