VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/17/13 -- MANNIX RESOURCES INC. ("Mannix" or the "Company") announces that it has settled a total of $232,500 of debt (the "Debt") with certain non-arms length parties of the Company (the "Shares for Debt Settlement").
The Debt payable to the non-arm's length parties totaled $232,500 and the Company has settled the same by issuing an aggregate of 4,650,000 common shares at a deemed price of $0.05 per share to Donald Crossley, the Company's President, Chief Executive Officer, Chief Financial Officer, Secretary and director, Robert Grey, a director, John Anderson, also a director.
All securities issued in connection with the Shares for Debt Settlement are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.
For further information concerning this press release, please email firstname.lastname@example.org.
ON BEHALF OF THE BOARD OF DIRECTORS OF MANNIX RESOURCES INC.
Donald Crossley, President, CEO, CFO and Secretary
Mannix Resources Inc.
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