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TerraX Minerals Inc Closes First Tranche Of Private Placement For $1,357,217


Wednesday, 8 May 2013 01:13pm EDT 

TerraX Minerals Inc announced that it has completed an initial closing of 6,786,085 units at $0.20 per share of its previously announced non-brokered private placement (see our news release of April 4, 2013) for gross proceeds of $1,357,217. 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 $0.30 per share until May 8, 2016. The shares and any shares acquired on the exercise of warrants will be subject to a hold period expiring on September 9, 2013. Finder's fees of $21,480 were paid with respect to this placement along with the issuance of 109,200 finders warrants exercisable at $0.30 until May 8, 2016. Insiders of TerraX acquired 250,000 units. 

Company Quote

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24 Dec 2014