VANCOUVER, Aug. 20 /CNW/ - Solex Resources Corp. (TSX-V: SOX) ("Solex" or
the "Company") today announced that 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") which was due
to close on August 20, 2009 will be extended. The Company has initiated a
process to consider and respond to various strategic opportunities which may
be available to the Company. The review was precipitated by the receipt of an
unsolicited third party offer to subscribe for the full amount of the
placement with the intention to negotiate a business combination of the two
parties. The Board of Directors of Solex Resources has formed a Special
Committee of independent directors to review and consider this offer and
alternative ways of maximising value for the shareholders. The Company
emphasized that there can be no assurance that any transaction or other
alternative will ultimately be completed.
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.
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.
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.
For further information:
For further information: Deborah Thiel, Corporate Development, Cell:
(604) 512-9691, Toll Free: 1-877-646-4488, Email: email@example.com,