Tiex Shareholders Approve Share Consolidation & Name Change to Bullion Gold Resources Corp.
TIEX INC.
#2270 – 1055 West Georgia Street, Vancouver, BC V6E 3P3 Tel: 604-558-1607 Fax: 604-200-0123
FOR IMMEDIATE RELEASE TSX-V: BGD October 26, 2012 www.tiexinc.com
TIEX SHAREHOLDERS APPROVE SHARE CONSOLIDATION & NAME CHANGE TO BULLION GOLD RESOURCES CORP.
TIEX Inc. (TSX-V: TIX) (“Tiex” or the “Corporation”) announces that shareholders of the Corporation and the TSX Venture Exchange have approved the consolidation of the Company’s shares on a 1:3 basis. Effective October 29, 2012 the Company will trade under its new name of Bullion Gold Resources Corp. (TSX-V: BGD).
CONSOLIDATION AND NAME CHANGE:
At the Company’s Annual General and Special Meeting held on October 22, 2012, shareholders approved a consolidation of its share capital on the basis of one (1) new common share for every existing three (3) common shares (the "Consolidation"). Where the exchange resulted in a fractional share, the number of common shares will be rounded to the nearest whole common share. The Consolidation will enhance the marketability of the common share as an investment and facilitate additional financings to fund future operations. Shareholder and Exchange approval of the Consolidation has been received with the record date set as October 29, 2012. After the consolidation the Corporation will have a total 15,443,160 common shares issued and outstanding. As part of the Consolidation, the name of the Company was changed to Bullion Gold Resources Corp.
An updated Company website is under construction and is expected to be announced in the near future.
DIRECTORS & OFFICERS:
The new Board was approved and consists of the following persons:
- Terry Severs, businessman of Vancouver, BC
- Wade Black, brokerage & investment banker of Brooklyn, New York
- David Mark, geophysicist & owner of Geotronics Consulting Inc. of Vancouver, BC
- John Buckle, geophysicist, geologist & owner of Geosol Solutions Inc. of Vancouver, BC
- Kurt Hoffman, involved in United Silver Corp. & United Mine Services of , Idaho
The Corporation also elected the following officers:
- Terry Severs, President & Chief Executive Officer
- Diana Mark, Chief Financial Officer & Corporate Secretary
Ken Faulkner, previous President & CEO, and Tom Martin, previous CFO & Corporate Secretary, have filed wrongful dismissal suits against the Corporation and management is in the process of countering these lawsuits.
About Bullion Gold Resources Corp.:
Bullion Gold Resources Corp. is a TSX Venture listed mineral exploration company focused on the exploration of its 95,559 ha properties in the Cariboo 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) 558-1607 Facsimile: (604) 200-0123 Email: terry@bulliongold.ca