VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/17/13 -- Robert C. Grey ("Mr. Grey") (NTD: and his wholly-owned Company, Estevan Investments Limited) filed an early warning report dated May 17, 2013 (the "Early Warning Report") advising of their holdings in Mannix Resources Inc. ("Mannix" or the "Company").
On May 17, 2013, Mr. Grey acquired beneficial ownership and control of 1,150,000 common shares (the "Shares") of the Company at a deemed price of $0.05 per share pursuant to a debt settlement agreement between Mr. Grey and the Company (the "Transaction"). Following the completion of the Transaction, Mr. Grey beneficially owns and controls 1,150,000 common shares of the Company, representing approximately 12.26% of the issued and outstanding common shares of the Company.
The Shares issued to Mr. Grey under the Transaction were exempted from the prospectus requirement under the friends, family and business associates exemption set out in section 2.5 of National Instrument 45-106 - Prospectus and Registration Exemptions.
Pursuant to the Transaction, Mr. Grey entered into a debt settlement agreement with the Company (the "Debt Settlement Agreement"). A summary of the Debt Settlement Agreement and the Transaction is contained in the Company's news release dated May 17, 2013 which is available under the Company's profile on SEDAR at www.sedar.com.
The common shares of the Company are currently not listed on any exchange. Mr. Grey acquired the Shares for investment purposes. In pursuing such purposes, Mr. Grey takes a long term view of the investment and reserves the right to formulate other plans or make other proposals, and take such actions with respect to its investment in the Company. Mr. Grey may at any time reconsider and change its plans or proposals relating to the foregoing. No person acted jointly or in concert with Mr. Grey in making this acquisition.
This news release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which the Company is a reporting issuer containing additional information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report will appear with the Company's documents on the SEDAR website at www.sedar.com. A copy of the Early Warning Report may also be obtained by contacting Robert C. Grey at (604) 684-9601.
ROBERT C. GREY
Robert C. Grey
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