VANCOUVER, April 28 /CNW/ - Solex Resources Corp. (TSX-V: SOX) ("Solex" or the "Company") is pleased to announce that, at a Special Meeting of Shareholders held yesterday, the shareholders of the Company approved the previously announced transaction with Homeland Uranium Inc. ("Homeland"), whereby the Company will acquire from Homeland $4,000,000 in cash, 7,619,047 shares of Macusani Yellowcake Inc., and the right to compel Homeland to exercise its warrants to purchase up to 4,571,428 Macusani Yellowcake shares and to transfer the resulting warrant shares at the warrant exercise price to the Company, in exchange for 81,654,442 common shares in the capital of the Company. In addition, the shareholders of Solex approved the proposed name change of the Company and the proposed 3:1 share consolidation, following completion of the transaction.
Subject to final TSX Venture Exchange approval, closing of the transaction is expected to take place the week of May 3, 2010.
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) where in excess of 55 uraniferous anomalies have been identified on Solex properties. Solex is exploring three properties in the Macusani region (Macusani East, Macusani West and Macusani South), in addition to the 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.
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.
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.
SOURCE SOLEX RESOURCES CORP.
For further information: For further information: Jonathan Challis, President and Director, (604) 646-7210, firstname.lastname@example.org, www.solexresources.com