Micrex Development Corp.: Issuance of Shares for Quebec Property Interest
CALGARY, ALBERTA--(Marketwire - June 21, 2012) - Micrex Development Corp. (TSX VENTURE:MIX) announced that it has applied for regulatory approval to issue a total of 346,154 common shares at a deemed issue price of $0.13 per share in respect to its previously disclosed agreement wherein the Corporation purchased its magnetite/titanium/apatite property in the Saguenay/Lac St-Jean region, in Bourget Township on the north shore of the Sagueany River, Quebec. The agreement was entered into on June 13, 2002 and provides for a yearly payment to be made in the sum of $45,000, payable in cash or common shares. These shares will be issued subject to a 4 month hold period terminating on October 22, 2012.
Micrex Development Corp. (TSX VENTURE:MIX) is a mineral exploration company based in Alberta, Canada with mining properties in North America.
Visit www.mixcorp.com for further details.
MICREX DEVELOPMENT CORP.
Burmis Magnetite/Titanium Property - St. Charles de Bourget Magnetite/Titanium/Apatite Property - Fort Steele Placer Property - Bighorn Gold Mine - Mount Royal Gold Mine - Deadwood Gold Mine - Sunburst Gold Property
FORWARD LOOKING STATEMENTS
Certain statements in this news release are "forward-looking statements", which reflect management's expectations regarding its property and business operations. All statements other than statements of historical fact contained in this news release are forward-looking statements. Such forward-looking statements involve risks and uncertainties, as they reflect management's current beliefs and are based on information currently available to management. Actual results may differ materially from those anticipated in the statements made. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The forward-looking statements are made as of the date of this news release and Micrex assumes no obligation to update or revise them to reflect new events or circumstances except as expressly required by applicable securities law. Further information regarding the uncertainties and risks can be found in the disclosure documents filed by Micrex with the securities regulatory authorities, available at www.sedar.com.
SEC 12 g (3) Exemption 82-4281NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE 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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