TerraX Agrees to $675,000 Private Placement with Two Placees
07 Febrero 2014 - 3:00PM
Marketwired
TerraX Agrees to $675,000 Private Placement with Two Placees
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 7, 2014) -
TerraX Minerals Inc. (TSX-VENTURE:TXR)(FRANKFURT:TX0) has agreed to
a non-brokered private placement with two placees for 1,500,000
units at $0.45 per unit for gross proceeds of $675,000. Each unit
will consist of one common share and one-half of one share purchase
warrant, with each full warrant entitling the holder to purchase an
additional common share at an exercise price of $0.51 per share for
a period of two years from the date of closing. Finders' fees will
be payable on a portion of this placement. Closing is scheduled for
early next week, subject to acceptance for filing by the TSX
Venture Exchange.
The net proceeds of this private placement will be used to
finance additional drilling planned for Terrax's wholly-owned
Northbelt property, which encompasses 3,562 hectares on the
prolific Yellowknife belt, 15 km north of the city of Yellowknife,
and covers 13 km of strike on the northern extension of the geology
that contained the Giant (7.6 Moz) and Con (5.5 Moz) gold mines.
The Northbelt property is host to multiple shears that are the
recognized hosts for gold deposits in the Yellowknife camp and it
contains innumerable gold showings.
On behalf of the Board of Directors
Joseph Campbell, President
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This news release contains forward-looking information, which
involves known and unknown risks, uncertainties and other factors
that may cause actual events to differ materially from current
expectation. Important factors - including the availability of
funds, the results of financing efforts, the completion of due
diligence and the results of exploration activities - that could
cause actual results to differ materially from the Company's
expectations are disclosed in the Company's documents filed from
time to time on SEDAR (see www.sedar.com). Readers are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date of this press release. The company
disclaims any intention or obligation, except to the extent
required by law, to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
Paradox Public Relations514-341-0408 or Toll Free:
1-866-460-0408info@paradox-pr.caVanguard Shareholder
Solutions604-608-0824 or Toll Free:
1-866-801-0779ir@vanguardsolutions.ca
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