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Attention Business Editors
Solex Resources Corp. Announces Extension of Non-Brokered Private Placement
VANCOUVER, July 3 /CNW/ - Solex Resources Corp. (TSX-V: SOX) ("Solex" or
the "Company") today announced an extension of the previously announced
offering of up to 15,000,000 units ("Units") on a private placement basis at a
price of $0.15 per Unit to raise gross proceeds of $2,250,000 ("the
Offering"). Each Unit will consist of one common share ("Common Share") and
one Common Share purchase warrant ("Warrant"). Each full Warrant will entitle
the holder to purchase one Common Share of the Company for a period of 24
months at a price of $0.20 per Common Share. In the event that the 20 day
volume weighted average price of the Company's Common Shares exceeds $0.35,
the Company can request the immediate exercise of those Warrants by giving
notice to the holders. Any Warrants not exercised will expire at that time.
Proceeds from the private placement will be used for resource delineation
and exploration on the Company's Macusani uranium properties in Peru and for
general working capital requirements.
The Offering is scheduled to close on or before July 21, 2009. The
securities issued pursuant to the private placement will be subject to a four
month hold period and the Offering will be subject to all regulatory
approvals.
The Company may pay finder's fees equal to 7% in cash and 7% in broker's
warrants to those persons authorised to receive such fee.
About Solex Resources Corp.
Solex Resources Corp. is the dominant landholder in southern Peru's
Macusani Uranium District with concessions covering over 904 km(2). The
Company is also exploring its two other 100% owned Macusani uranium projects
(West and South), and proximal Picotani uranium project. NI 43-101 reports
were filed during 2008 on the Princesa silver, lead and zinc property and on
the Pilunani lead and zinc project.
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Neither 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.
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This news release may contain forward-looking statements that are based
on Solex's expectations, estimates and projections regarding its business and
the economic environment in which it operates. These statements are not
guarantees of future performance and involve risks and uncertainties that are
difficult to control or predict. Therefore, actual outcomes and results may
differ materially from those expressed in these forward-looking statements and
readers should not place undue reliance on such statements. Statements speak
only as of the date on which they are made, and the Company undertakes no
obligation to update them publicly to reflect new information or the
occurrence of future events or circumstances, unless otherwise required to do
so by law.
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/For further information: Deborah Thiel, Corporate Development, Cell:
(604) 512-9691, Toll Free: 1 (877) 646-4488, Email: dthiel@solexresources.com,
Website: www.solexresources.com/
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