FOR IMMEDIATE RELEASE:
STARREX INTERNATIONAL ANNOUNCES APPROVAL OF PROPOSED ACQUISITIONS AND PRIVATE PLACEMENT
Toronto (Canada), June 2, 2014 – Starrex International Ltd. (“Starrex” or the “Corporation”) (CSE: STX) announces that its Board of Directors has authorized management to pursue negotiation, executionand completion of agreements to acquire 100% of three businesses located in the United States, all of which are engaged in providing services to the mortgage banking industry. The businesses include appraisal services, personnel recruiting and management consulting. It is anticipated that the acquisitions will be completed late in the second quarter or early in the third quarter of 2014. The consideration for the acquisitions will satisfied by the issuances of up to approximately four million shares of Starrex at a price of $0.50 per share.
Starrex also announces its previously announced proposed private placement of up to two million shares at $0.50 per share for gross proceeds of $1,000,000 has been approved by its Board of Directors.
For further information please contact Ronald Mann, Secretary and Acting Chief Financial Officer of Starrex, at (647) 981-2782, email address: email@example.com.
This news release may contain or refer to forward-looking information. All information other than statements of historical fact that address activities, events or developments that Starrex believes, expects or anticipates will or may occur in the future are forward-looking statements. This forward- looking information is subject to a variety of risks and uncertainties beyond Starrex’s ability to control or predict that may cause actual events or results to differ materially from those described in such forward- looking information. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Starrex disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although Starrex believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be placed on this forward-looking information due to the inherent uncertainty thereof.
Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this press release.