Tirex Resources Announces Closing of EBRD Debt Restructuring
488-1090 West Georgia St. www.tirexresources.com
Vancouver B.C. Canada V6E3V7 [email protected]
Tel: 604-687-7130 TSX-V: TXX
December 20, 2017 - NR 14-2017
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NEWS RELEASE
Tirex Resources Announces Closing of EBRD Debt Restructuring
Tirex Resources Ltd. (“Tirex” or the “Company”) announces that, further to its news release of December 18,
2017 it has closed its debt restructuring with the European Bank for Reconstruction and Development
(“EBRD”), whereby the full $10,741,384 of principal and accrued interest owing to EBRD has been converted
to equity, and Tirex has issued and delivered 38,275,000 common shares of Tirex in full settlement thereof.
EBRD has filed an early warning report on SEDAR disclosing its current ownership of 42,275,000 common
shares of Tirex, representing approximately 27.56% of the 153,418,790 shares of Tirex now outstanding.
Tirex also announces that, further to its news release of December 18, 2017, it will now consolidate its common
shares on a 10 old for 1 new basis. The Company will announce the effective date this consolidation will take
effect as soon as it is known, and the corresponding change to the CUSIP number expected to take place.
Tirex is arranging a $4.75 million equity financing, to be conducted via a private placement of common shares.
This placement will take place post the share consolidation.
The placement being arranged will consist of the issuance of up to 25 million units at a price of $0.19 per unit,
each unit consisting of one post-consolidated common share and one half (1/2) common share purchase
warrant, with a whole common share p urchase warrant being exercisable into post-consolidated common
shares at a price of $0.30 for a period of one year and subject to an acceleration clause should the common
shares trade at a price of $0.70 or greater for 10 consecutive trading days.
Financing proceeds are intended for general working capital and to advance the Company’s mineral projects.
Tirex also intends to undergo a corporate name change in conjunction with the consolidation and will update
investors when this is to occur.
All figures are in Canadian dollars.
On behalf of the Company,
“Fred Tejada”
Chief Executive Officer
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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 news 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 and may or may not occur. 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,
exchange rates, 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, labour disputes, claims 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. Specifically, it cannot be assured that the financing described will close. If the
financing does close, it may not close according to the terms described. Further, it cannot be
assured that the share consolidation will occur. 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.