SYS-CON MEDIA Authors: Bob Gourley, Lori MacVittie, RealWire News Distribution, Cynthia Dunlop, Mark O'Neill

News Feed Item

Mannix Resources Inc. Announces Shares for Debt Agreement and New Board Members

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 02/17/14 -- Mannix Resources Inc. (the "Company") announces that it has settled outstanding debt of $52,500 owed to a certain director of the Company through the issuance of 1,050,000 common shares of the Company at a deemed price of $0.05 per share. The securities issued in connection with the debt settlement are subject to a statutory hold period of four months from the date of issuance in accordance with applicable securities legislation.

The Company is further pleased to announce the appointment of new directors and officers as part of its restructuring. New Board members Stephen Leahy and Michael Leahy join Donald Crossley and John Anderson on the Board of Directors. Mr. Crossley has stepped down as President, Chief Executive Officer and Secretary of the Company. Mr. Crossley remains as Chief Financial Officer of the Company. The Company has appointed Stephen Leahy as Chief Executive Officer and Bijay Singh as Secretary of the Company. The Company wishes to thank Robert C. Grey, who has stepped down from the Board, for his efforts and support.

Acquisition of Shares by Stephen Leahy

Stephen Leahy of Suite 580 - 625 Howe Street, Vancouver, B.C., V6G 2T6 announces that he has acquired 2,350,000 common shares of the Company in private transactions. The 2,350,000 common shares acquired represent approximately 38.1% of the issued and outstanding shares of the Company.

As a result of the forgoing acquisition, Mr. Leahy has direct and indirect control and direction over a total of 2,350,000 common shares of the Company representing approximately 38.1% of the issued and outstanding shares of the Company.

The securities acquired will be held for investment purposes. Mr. Leahy may, depending on market and other conditions, increase or decrease his beneficial ownership of the Company's securities by privately negotiated agreements or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities.

This information is provided pursuant to Multilateral Instrument 62-104, which also requires a report to be filed on SEDAR (www.sedar.com) containing additional information with respect to the foregoing matters.

Acquisition of Shares by John Anderson

John Anderson of 52A Powell street, Suite 200, Vancouver, B.C., V6A 1E7 announces that he has acquired 1,050,000 common shares of the Company in private transactions. The 1,050,000 common shares acquired represent approximately 17.0% of the issued and outstanding shares of the Company.

As a result of the forgoing acquisition, Mr. Anderson has direct and indirect control and direction over a total of 2,200,000 common shares of the Company representing approximately 35.6% of the issued and outstanding shares of the Company.

The securities acquired will be held for investment purposes. Mr. Anderson may, depending on market and other conditions, increase or decrease his beneficial ownership of the Company's securities by privately negotiated agreements or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities.

This information is provided pursuant to Multilateral Instrument 62-104, which also requires a report to be filed on SEDAR (www.sedar.com) containing additional information with respect to the foregoing matters.

Acquisition of Shares by Donald Crossley

Donald Crossley of 992 East 13th Avenue, Vancouver, B.C., V5T 2L6 announces that he has acquired 1,050,000 common shares of the Company in a private transaction. The 1,050,000 common shares acquired represent approximately 17.0% of the issued and outstanding shares of the Company.

As a result of the forgoing acquisition, Mr. Crossley has direct and indirect control and direction over a total of 1,151,218 common shares of the Company representing approximately 18.7% of the issued and outstanding shares of the Company.

The securities acquired will be held for investment purposes. Mr. Crossley may, depending on market and other conditions, increase or decrease his beneficial ownership of the Company's securities by privately negotiated agreements or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities.

This information is provided pursuant to Multilateral Instrument 62-104, which also requires a report to be filed on SEDAR (www.sedar.com) containing additional information with respect to the foregoing matters.

Contacts:
Mannix Resources Inc.
Stephen Leahy
Chief Executive Officer
604.729.4573

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.