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 .
ON BEHALF OF THE BOARD OF DIRECTORS OF MANNIX RESOURCES INC.
Donald Crossley, President, CEO, CFO and Secretary
Contacts: Mannix Resources Inc. 604-669-3610
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