Geodex Announces Private Placement Closing
Geodex Minerals Ltd. (TSX-V:GXM), (“Geodex”) announces that it has received final TSX
Venture Exchange approval for its non-brokered private placement announced on December 7,
2007. The private placement has closed and consisted of 1,479,567 units at a price of $1.15 per
unit for total proceeds of $1,701,502. Each unit is comprised of one common share and one half
share purchase warrant to purchase one additional common share at $1.65 per share for one year
following closing of the private placement. Geodex may force conversion of the outstanding
warrants on 30 days notice to the warrant holders in the event Geodex’s shares close at a trading
price of $2.00 or greater for 10 consecutive trading days.
Proceeds of this private placement will be used to fund ongoing mineral exploration activities
and for working capital. Commissions in the amount of $20,577 and 17,850 warrants were paid
to third parties who assisted in placing a portion of the private placement. The private placement
did not result in a change of control.
The hold period on the private placement shares and on any shares issued pursuant to the
exercise of the warrants expires on May 31, 2008.
The company also announces that pursuant to its stock option plan, it has granted 50,000 options
to consultants and employees. These will be exercisable at a price of $00.70 for a period of 5
years.
Forward Looking Statement
Certain information regarding the Company contained in this press release may constitute
forward-looking statements within the meaning of applicable securities laws. Forward-looking
statements may include estimates, plans, opinions, forecasts, projections or other statements that
are not statements of fact. Although the Company believes that expectations reflected in such
forward-looking statements are reasonable, it can give no assurance that such expectations will
prove to have been correct. The Company cautions that actual performance will be affected by a
number of factors, many of which are beyond the Company’s control, and that future events and
results may vary substantially from what the Company currently foresees.
On Behalf of the Board of Directors
GEODEX MINERALS LTD.
‘Jack M. Maris’
Jack M. Maris,
President
For further information contact:
Christopher R. Anderson, V.P Business Development
(604) 689-7771, Toll free 1-888-999-3500, Email: info@geodexminerals.com
Visit our website at www.geodexminerals.com
