Tirex Arranges $250,000 Loan
700–510 West Hastings St. Tel: 604-687-7160 www.tirexresources.com Vancouver B.C. Fax: 604-608-9110 [email protected] Canada V6B 1L8 TXX: TSX-V
January 13, 2015 - NR 1-2015
Tirex Arranges $250,000 Loan
Tirex Resources Ltd. (“Tirex”) is pleased to announce it has arranged a loan from Pacific Investment Corporation Limited (“PIC”) of Vancouver, British Columbia, Canada, for the amount of $250,000. Proceeds will be used for working capital in Albania.
This is an unsecured demand loan with zero prepayment penalties. As a bonus for making the loan, PIC will receive common shares of the company (subject to a four month hold) having a value equal to 20 per cent of the principal loan amount using, for such calculation, a value per common share of twenty cents per share. The interest rate on the loan is 12 percent per annum. Issuance of the bonus securities above is subject to the acceptance for filing by the TSX Venture Exchange.
Additionally, Tirex has arranged the issuance of 125,000 common shares via private placement to a single subscriber at $0.20 per share (with no warrants and with a four month hold and subject to TSX Venture approval) for gross proceeds of $25,000 which will also be used for working capital in Albania.
On behalf of Management,
Bryan Slusarchuk Chief Executive Officer
Forward-Looking Statements. This news release may contain certain "forward-looking" statements and information relating to Tirex. Although forward-looking statements and information contained in this release are based on the beliefs of Tirex management, which we consider to be reasonable, as well as assumptions made by and information currently available to Tirex management, there is no assurance that forward-looking statements will be achieved or that the loan described above will complete. Accordingly, readers should not place undue reliance on forward-looking statements and information contained in this release. We undertake no obligation to update forward-looking statements or information except as required by law
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