Tirex Resources Announces EBRD Extension of Maturity Date of Convertible Loans
488-1090 West Georgia St. Tel: 604-687-7 130 www.tirexresources.com
Vancouver B.C. [email protected]
Canada V6E3V7 TXX: TSX-V
March 13, 2017 - NR 03-2017
NEWS RELEASE
Tirex Resources Announces EBRD Extension of Maturity Date of Convertible Loans
Tirex Resources Ltd. ("Tirex" or the "Company") is pleased to announce that the European Bank for
Reconstruction and Development ("EBRD") has agreed, pursuant to an am endment agreement and subject to
satisfaction of certain conditions including TSX Venture Exchange approval, to extend the maturity date of
its convertible loans to February 28, 2018. The loans b ear interest at the European Union Interbank Offered
Rate (EURIBOR) rate plus 1.5%.
The EBRD fosters transition to market economies in countries from central and eastern Europe to central
Asia and the southern and eastern Mediterranean. Since the EBRD's est ablishment in 1991, the bank has
grown to be the largest financial investor in their re gion of operations. The EBRD is owned by 65 countries,
the European Union and the European Investment Ba nk. The EBRD's very strong capital position, prudent
financial management and strong shareholder support underpin the E BRD's AAA/Aaa/AAA (stable) credit
rating.
The EBRD is one of the most active financiers of the private sector in Albania. Its main areas of focus are
supporting small production enterprises, supporting the financial sector, developing natural resources and
improving infrastructure. The EBRD is also engaged in policy dialogue with the Albanian government, with
the potential to invest in key public sector projec ts, along with the implementation of numerous donor-
funded projects in the country.
Tirex President, Mr. Fred Tejada, P.Geo, states, “ Recently Tirex announced that the National Business
Center of Albania issued its 25-year mining license for the high grade copper project, Rehova, located in
southern Albania. This approval by EBRD on the ext ension of its convertible loan will enable the Company
to transition from a period of inactivity to beco ming very active again in-country. Tirex appreciates the
EBRD’s support and patience during the lengthy approval process and the extension of the maturity of the
convertible loans which significantly improves the Co mpany’s financial position as we execute our business
plan.”
On behalf of the Company,
Spiro Kletas
Chief Executive Officer
"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."