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Geodex Minerals Ltd Announces Unit Private Placement


Tuesday, 8 Oct 2013 11:00am EDT 

Geodex Minerals Ltd announced that it will proceed with a non-brokered private placement of up to 4,200,000 million units and shares of Geodex. It is expected that the financing will comprise a combination of non-flow through units (the Non-Flow-Through Units) and flow-through shares (Flow-through Shares). The Non-Flow-Through Units will be priced at $0.06 per Unit. Each Unit will be comprised of one common share and one half share purchase warrant (a Warrant). Each full Warrant will be exercisable into one Geodex common share at $0.10 per share for a period of 12 months from the closing date. Each Flow-Through Share will be priced at $0.06 for one common share. Proceeds from the private placement will be used for work programs on Geodex's New Brunswick projects and for general corporate purposes. Geodex plans to complete drill programs on the Benjamin Copper-Molybdenum and South Dungarvon Tin Projects in addition to further work on its Pabineau Molybdenum Project and other projects. Geodex may pay finder's fees 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. The placement is subject to the approval of the TSX Venture Exchange. 

Company Quote

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17 Oct 2014