STARREX INTERNATIONAL LTD.
180 DUNDAS STREET WEST ● SUITE 1801 ● TORONTO ● ONTARIO ● CANADA ●M5G 1Z8
Telephone (647) 981-2782 ● Facsimile (416) 595-5959
FOR IMMEDIATE RELEASE:
STARREX ANNOUNCES CLOSING OF PRIVATE PLACEMENT
July 9, 2014 – Toronto, Ontario – Starrex International Ltd. (“Starrex”) (CSE: STX & OTC BB: STXMF) announces the successful completion today of its non-brokered private placement, previously announced on May 29, 2014 and June 2, 2014. A total of 1,983,957 common shares were issued today at CDN $0.50 per share for aggregate gross proceeds of CDN $991,978.74.
The net proceeds of the private placement will be used to provide working capital for the three acquisitions completed by Starrex earlier today. The three United States-based companies, Olympia Capital Management, Inc., One Force Staffing, Inc. and Property Interlink, LLC, are service entities that provide advisory, employment, appraisals and evaluations to the mortgage banking industry.
P. Garrett Clayton, Chairman of Starrex, states, “It is very exciting that this raise was accomplished by participation of every board member and two of our legal consultants,” and he wishes “to thank all the participants in the private placement for their monetary investment and continued support”.
The common shares of Starrex issued pursuant to the private placement are subject to a four- month hold period under applicable securities laws.
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, including statements regarding the use the of proceeds noted above. 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.