TerraX Closes Private Placement for $675,000
12 Febrero 2014 - 2:09PM
Marketwired
TerraX Closes Private Placement for $675,000
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 12, 2014) -
TerraX Minerals Inc. (TSX-VENTURE:TXR)(FRANKFURT:TX0) has closed
its previously announced non-brokered private placement of
1,500,000 units at $0.45 per unit, with two placees, for gross
proceeds of $675,000. Each unit consists 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 until February 12, 2016. The
shares and any shares acquired on the exercise of warrants will be
subject to a hold period expiring on June 13, 2014. Finders' fees
of $31,500 were paid with respect to this placement along with the
issuance of 70,000 finders' warrants exercisable at $0.51 until
February 12, 2016.
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 RelationsPhone: 514-341-0408Toll Free:
1-866-460-0408info@paradox-pr.caVanguard Shareholder
SolutionsPhone: 604-608-0824Toll Free:
855-508-0824ir@vanguardsolutions.ca
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