January 24, 2018 – Toronto, Ontario – Starrex International Ltd. (“Starrex” or the “Company”) (CSE: STX) announces that the Company has completed the private placement of a $500,000 Convertible Note to an arms-length investor. The Note bears interest at 6% per annum and matures January 22, 2019. The Note is convertible at the option of the holder into common shares of Starrex at a rate of $0.73 US per share, and is secured by the covenant of Starrex but is otherwise unsecured.
The cash proceeds received by the Company from the issuance of the Convertible Note will be used for working capital, business expansion and general corporate expenses.
All of the securities issued pursuant to this private placement will be subject to a four (4) month hold period.
For further information please contact Ronald Mann, Secretary, Investor Relations Officer of Starrex, at (647) 981-2782, email address: firstname.lastname@example.org.
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 the Company believes, expects or anticipates will or may occur in the future are forward-looking statements, including statements regarding the proposed use of proceeds. This forward-looking information is subject to a variety of risks and uncertainties beyond the Company’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, the Company 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 the Company 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.