TIEX INC. ANNOUNCES New Director & $500,000 Private Placement

KELOWNA, BC, Nov. 8 /CNW/ - Tiex Inc. ("Tiex" or the "Company") TSX-V: TIX is pleased to announce the appointment of Kenneth David Faulkner, as a Director of the Company.

Mr. Faulkner has in excess of 30 years experience working in capital markets in a number of different capacities. As a broker, he worked for firms such as Burns Fry, First Commonwealth Securities and Canaccord Capital. While with First Commonwealth, he was on the development team that pioneered the structure and implementation of the junior capital pool which later became the CPC. During his tenure in the brokerage business, he financed public and private companies in diverse industries such as bio-tech, telecom, oil and gas, base and precious metal mining.

Mr. Faulkner has also worked as a consultant for various public and private companies. In this capacity he has assisted clients in many ways, to include acquiring financing, gaining analytical coverage as well as advising on property acquisition and joint venture opportunities. Mr. Faulkner's experience in the public markets has allowed him to establish a broad network of international relationships. This network enables him to facilitate the growth of the Company at various stages of development.

Tiex Inc. reports that it has granted options to acquire and aggregate of 500,000 common shares of the Company to Kenneth D. Faulkner at an exercise price of $0.18 per share until November 7, 2015.

The Company is pleased to announce a non-brokered private placement consisting of up to 2,500,000 units of common share units and up to 2,000,000 units of flow-through share units to raise gross proceeds of $500,000.

The common share units (the common share "Units") are being offered at $0.10 per Unit. Each Unit will consist of one Common Share and one-half of a common share purchase warrant (a "Unit Warrant") of the Company. Each Unit Warrant will entitle the holder to purchase one Common Share for a period of one year from closing at a price of $0.15 per share.

The flow-through units (the "FT Units") are being offered at $0.125 per FT Unit. Each FT Unit will consist of one common share (a "Common Share") of the Company issued on a flow-through basis and one-half of a common share purchase warrant (a "Warrant") of the Company to be issued on a non-flow-through basis. Each whole Warrant will entitle the holder to purchase one Common Share for a period of one year from closing at a price of $0.20 per share.

The Company will pay 7% finders' fees in cash and/or common share units in connection with part of this private placement offering.

This private placement is subject to regulatory approval. The proceeds of the private placement will be used by the Company for general working capital and to further fund exploration work on the Cariboo Goldfields Properties.

About Tiex Inc.

Tiex Inc. is a TSX Venture listed mineral exploration company focused on the exploration of its 137,572 hectare Cariboo Goldfields Project located in the historic Quesnel Trough area of central British Columbia, Canada. The property is accessible by highway and logging roads year round. For more information, you can visit the company's website at www.tiexinc.com

ON BEHALF OF THE BOARD OF DIRECTORS

"Ernest Bergvinson"

President & CEO

Certain information regarding the Company including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements.

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 RELEASE.

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For further information:

Ernest (Ernie) Bergvinson
President and CEO
Telephone: [phone]
Facsimile: [phone]
Email: [email protected]