February 20, 2013
Tirex Raises $3,019,096 in Private Placement
VANCOUVER, BC - Tirex Resources Ltd.(TSX.V:TXX) is pleased to announce that it has raised $3,019,096 via a non-brokered private placement of 6,038,192 common shares at a price of $0.50 per share. There are no warrants attached to the common shares and all shares issued under the private placement will be subject to resale restrictions expiring four months from the date of closing.
The Company may pay finder's fees in cash, common shares, common share purchase warrants, or a combination thereof, to certain parties instrumental in obtaining subscriptions to the placement.
This private placement provides Tirex additional financial strength as the company advances its business plan at the Mirdita Volcanogenic Massive Sulphide project in Albania.
The Company will not be proceeding with the balance of the financing announced on November 5, 2012, but did close on $1,208,120 relating to that private placement.
In addition to the funds closed in the private placement announced November 5th and the $3,019,096 private placement described in today's news release, Tirex has approximately $1.91-million undrawn under its facility with the European Bank for Reconstruction and Development (EBRD), a facility described in previous Tirex news releases.
Completion of the private placement is subject to receipt of applicable regulatory approvals including acceptance by the TSX Venture Exchange.
On Behalf of Management,
Bryan J. Slusarchuk, Chief Executive Officer
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