Alix Announces Closing of Non-Brokered Private Placement
Suite 1220, 789 West Pender St. Vancouver, British Columbia Phone: 604-683-3995/ Toll Free: 888-945-4770/Fax: 604-683-3988
ALIX ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT
September 20, 2010, VANCOUVER, B.C. –ALIX RESOURCES CORP. (“Alix” or the Company”) (AIX- TSX:V)(37N –FRANKFURT) is pleased to announce the closing of its private placement (the "Private Placement") announced in news releases dated August 31, 2010 and September 3, 2010. Pursuant to the Private Placement, the Company issued 7,000,000 units (the "Units") at a price of $0.13 per Unit for gross proceeds of $910,000. Each Unit is comprised of one common share (a "Share") of the Company and one common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one Share of the Company for a period of two years from the date of issuance at a price of $0.20 per Share. If, after four months having elapsed from closing of the Private Placement, the Company's shares trade above $0.40 for 20 consecutive trading days, the Company has the option to provide notice to the warrant holders that their warrants will expire if they are not exercised within 30 days.
Finder’s fees consisting of 543,000 broker warrants (the "Broker Warrants") and $70,580 in cash were paid in accordance with the policies of the TSX Venture Exchange. Each Broker Warrant will entitle the holder to purchase one Share of the Company for a period of 12 months from the date of issuance at a price of $0.13 per Share.
All securities issued pursuant to the private placement are subject to a hold period expiring on January 18, 2011.
Alix Resources is a junior exploration company actively seeking mineral and energy opportunities for the benefit of all our stakeholders. For further information we invite you to visit us at www.alixresources.com.
ON BEHALF OF THE BOARD
"Michael England"
___________________________ Michael England, President
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.
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