Non Brokered Private Placement
Geodex Minerals Ltd. ("Geodex") announces that it has accepted private placement subscriptions for 1,479,370 units at $1.15 per unit. Each unit is comprised of one common share and one half share purchase warrant. One full warrant is required to purchase one additional common share of Geodex at $1.65 for one year following closing. 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. Cash proceeds from the private placement of $1,701,275.00 will be used to fund ongoing mineral exploration activities and for working capital. Commissions in the amount of $20,577.50cdn and 17,850 warrants were paid to third parties who assisted in placing a portion of the private placement.
Closing of the private placement is subject to final TSX-V approval."
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 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
