MIX Micrex Development Corp

Micrex Development Corp. (TSX VENTURE:MIX) announced that it has entered into an
arm's length agreement to purchase a 100% interest in a granite claim located
near Saint-Alexis-des-Monts, Quebec. The property is comprised of one claim
covering approximately 88 acres and has operated as a quarry for a number of
years.


The Company has, subject to regulatory approval, agreed to pay $780,000 for the
property payable $150,000 in cash and $100,000 to be paid in 1,000,000 treasury
shares at a deemed price of $0.10 at closing. In addition $100,000 will be paid
on each of the second, third, fourth and fifth anniversary dates of closing and
$30,000 will be paid on the sixth anniversary date. Micrex shall have the right
to elect annually to pay part or all of each annual payment in treasury shares
at the then current market price. In addition, the vendor will receive a
production royalty of 20% of net sales to be paid quarterly until such time as a
total of $100,000 has been paid.


The $150,000 cash portion of the purchase price will be raised by way of private
debt. The Company will be issuing up to $300,000 in 3 year notes which will
carry a 5% interest rate plus a 5% sales royalty on sales from the granite
quarry until repaid, and then a 2% royalty until the Company repurchases the
royalty for a total of $300,000. The balance of the funds raised will be used
for working capital. Insiders may participate in the offering. 


Stan Marshall, President of Micrex stated, "The acquisition of this property
should provide the Company with a source of cash flow which would cover its
general and administrative costs, enable it to be able to continue to develope
its magnetite properties and investigate other opportunities". 


Micrex Development Corp. is a mineral exploration company based in Alberta,
Canada with properties in North America.


Visit www.mixcorp.com for further details.

MICREX DEVELOPMENT CORP.

Burmis Magnetite/Titanium Property - St. Charles de Bourget Magnetite/Titanium
Property - Fort Steele Placer Property - Bighorn Gold Mine - Mount Royal Gold
Mine - Deadwood Gold Mine - Sunburst Gold Property


NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT
TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.


FORWARD LOOKING STATEMENTS

Certain statements in this news release are "forward-looking statements", which
reflect management's expectations regarding its property and business
operations. All statements other than statements of historical fact contained in
this news release are forward-looking statements. Such forward-looking
statements involve risks and uncertainties, as they reflect management's current
beliefs and are based on information currently available to management. Actual
results may differ materially from those anticipated in the statements made. The
forward-looking statements are expressly qualified in their entirety by this
cautionary statement. The forward-looking statements are made as of the date of
this news release and Micrex assumes no obligation to update or revise them to
reflect new events or circumstances except as expressly required by applicable
securities law. Further information regarding the uncertainties and risks can be
found in the disclosure documents filed by Micrex with the securities regulatory
authorities, available at www.sedar.com.


A mineral exploration and development company operating in Canada and the United
States


SEC 12 g (3) Exemption 82-4281

FOR FURTHER INFORMATION PLEASE CONTACT: 
Micrex Development Corp.
Perry Meszaros
(780) 448-0922


Micrex Development Corp.
S.E. Marshall
(780) 448-0922
mixinfo-1@mixcorp.com
www.mixcorp.com

Micrex Development (TSXV:MIX)
Gráfica de Acción Histórica
De Nov 2024 a Dic 2024

Micrex Development (TSXV:MIX)
Gráfica de Acción Histórica
De Dic 2023 a Dic 2024