Geodex Announces Unit Private Placement
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/25/11 -- Geodex Minerals Ltd. (TSX VENTURE: GXM)(FRANKFURT: G2W) ("Geodex") announces that it will proceed with a non-brokered private placement of up to five million units of Geodex (the "Units") at $0.10 per Unit. Each Unit will be comprised of one common share and one-half share purchase warrant (a "Warrant"). Each full Warrant is exercisable into one Geodex common share at $0.15 per share for a period of 18 months from the closing date. Geodex may accelerate the expiry date of the Warrants in the event Geodex's shares close at or above a price of 25 cents per share for 20 consecutive trading days on the TSX Venture Exchange. Proceeds from the private placement will be used for general corporate purposes.
Geodex may pay a finder's fee on a portion of the financing in accordance with TSX Venture Exchange guidelines. All securities issued on the proposed private placement will be subject to a four month hold period. Not more than 20% of the private placement will be subscribed for by non-arm's length parties. The private placement is subject to TSX Venture Exchange approval. The private placement will not result in a change of control of Geodex.
About Geodex
Geodex is a mineral resource company focused on New Brunswick, Canada with its primary asset being its 30% Sisson ownership interest. Geodex is also actively developing its exploration portfolio focused on the discovery of critical metals in New Brunswick. Geodex has operated for nine years in New Brunswick where it has had a number of discovery and development successes, Sisson and Mount Pleasant West being the best examples.
ON BEHALF OF THE BOARD OF DIRECTORS
GEODEX MINERALS LTD.
Mark Fields, President & CEO
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.
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.
Contacts:
Geodex Minerals Ltd.
Investor Relations
(604) 689-7771 or Toll Free: 1-888-999-3500
(604) 689-5528 (FAX)
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 25.10.2011 - 21:30 Uhr
Sprache: Deutsch
News-ID 80183
Anzahl Zeichen: 0
contact information:
Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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