Tiex Undertaking Corporate Restructuring
TIEX INC.
#2270 – 1055 West Georgia Street, Vancouver, BC V6E 3P3
FOR IMMEDIATE RELEASE TSX‐V: TIX September 24, 2012 www.tiexinc.com
TIEX UNDERTAKING CORPORATE RESTRUCTURING
TIEX Inc. (TSX‐V: TIX) (“Tiex or the “Corporation”) announces that the Corporation will be placing before its shareholders at its Annual and Special Meeting to be held October 22, 2012 (the “Meeting”) a special resolution (the “Share Consolidation Resolution”) authorizing the Corporation to file articles of amendment to provide for the consolidation of the issued and outstanding Common Shares of the Corporation on the basis of one (1) post‐consolidation Common Share for every three (3) pre‐ consolidation Common Shares (the “Consolidation”). The directors anticipate that by consolidating the issued and outstanding Common Shares, the consolidated Common Shares will have a higher value per share, thereby improving the Corporation’s ability to raise capital by future Common Share issuances. The Share Consolidation Resolution must be passed by a majority of not less than two‐thirds of the votes cast by the shareholders who vote in respect of the resolution. The Consolidation is subject to TSX Venture Exchange acceptance. The Corporation currently has 46,329,480 issued and outstanding Common Shares and would have, following the Consolidation, 15,443,160 issued and outstanding Common Shares. The Corporation is also placing before the shareholders at the Meeting, a special resolution to amendment the Corporation’s Articles to change of the Corporation’s name to Bullion Gold Resources Corp., or such other name as the directors of the Corporation may resolve and the Registrar of Corporations for the Province of Alberta may approve and the TSX Venture Exchange may accept.
Mr. Severs comments: “I am very encouraged with the current events taking place in the Corporation. This restructuring is an important step in placing Tiex on a solid footing. We look forward to completing these steps so that we can focus on our developing our property and creating shareholder value.”
The Corporation also announces the appointment of Diana Mark as Chief Financial Officer. Mrs. Mark has been involved in the mining industry, particularly on the regulatory side, for the past 25 years and brings to the Corporation a wealth of knowledge and experience. Mrs. Mark also holds the position of Corporate Secretary, on an interim basis.
About Tiex Inc.:
Tiex Inc. is a TSX Venture listed mineral exploration company focused on the exploration of its 95,559 ha properties in the Caribou Region, including the 16,180 ha Bullion Property which is under an earn‐in option/joint venture agreement with Newmont Canada Corporation. The properties are located in the prolific Quesnel Terrane of central British Columbia, Canada and are accessible by highway and logging roads year round. For more information, you can visit the company's website at: www.tiexinc.com.
Neither the 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.
For information contact: Terry D. Severs, President & CEO
Telephone: (604) 763‐4848 Facsimile: (604) 683‐6350 Email: terry@tiexinc.com