Tirex Resources Closes $1million Financing
488 - 1090 West Georgia St. Tel: 604-687-7130 www.tirexresources.com Vancouver B.C. [email protected] Canada V6E 3V7 TXX: TSX-V
September 21, 2016 - NR 5-2016
Tirex Resources Closes $1million Financing
Tirex Resources Ltd. (the “Company” or “Tirex”, TSXV: TXX) is pleased to announce that it has
closed the non-brokered private placement announced on August 23, 2016, consisting of the
issuance of 10,000,000 units (the “Units”) at $0.10 per Unit for gross proceeds of $1,000,000 (the
“Financing”). All securities issued pursuant to the Financing are subject to a four month hold period
expiring four months and a day from date of issuance.
Each Unit consists of one Common share and one half common share purchase warrant (a
“Warrant”). Each full Warrant will allow the holder to purchase one Common share of Tirex at a
price of $0.15 for a period of 12 months from the date of issuance.
Proceeds from the Financing are intended to be used for general corporate purposes including the
payments of certain outstanding Accounts Payable and to facilitate work at the Company’s
Romovista gold-silver-zinc project in Kosovo.
Additional to the closing of the full $1 million, the Company is also pleased to announce that it is
increasing the total size of the financing to $1.5 million due to strong investor interest and a second
tranche is expected to close within 15 days.
Finders fees of $2,400 cash, 160,000 common shares and 184,000 finder warrants (exercisable at
$0.15 for a period of 12 months) will be paid in relation to the private placement. All warrants
issued in connection with this private placement are subject to forced acceleration should Tirex’s
common shares close at $0.30 or greater for 10 straight trading days.
Fred Tejada
President
The TSXV has in no way passed upon the merits of the proposed Financing and has neither
approved nor disapproved the contents of this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news
release includes certain “forward-looking statements” under applicable Canadian securities
legislation. Forward-looking statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable, are subject to known and unknown risks,
uncertainties, and other factors which may cause the actual results and future events to differ
materially from those expressed or implied by such forward-looking statements. All statements that
address future plans, activities, events or developments that the Company believes, expects or
anticipates will or may occur are forward-looking information, including statements regarding
completion of the Financing and the expected use of proceeds. Forward-looking statements and
information contained herein are based on certain factors and assumptions regarding, among other
things, the market price of the Company’s securities, metal prices, taxation, the estimation, timing
and amount of future exploration and development, capital and operating costs, the availability of
financing, the receipt of regulatory approvals, environmental risks, title disputes, failure of plant,
equipment or processes to operate as anticipated, accidents, labour disputes, claims and
limitations on insurance coverage and other risks of the mining industry, changes in national and
local government regulation of mining operations, and regulations and other matters.. There can be
no assurance that such statements will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements. The Company disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by law.