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$6,271,100 Financing Closed
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Triex Minerals Corporation (TXM-TSX.V) ("Triex") has closed its
previously announced brokered private placement (the "Offering") with a
syndicate of agents led by Dundee Securities Corporation, and
including, Toll Cross Securities Inc. and Wellington West Capital
Markets Inc. (the "Agents"). A total of 993,235 flow-through common
shares ("Flow-Through Shares") at $3.40 per Flow-Through Share were
issued for gross proceeds of $3,376,999 and a total of 841,667 units
("Units") at $3.00 per Unit for gross proceeds of $2,525,001. Each Unit
consists of one common share and one-half of one common share purchase
warrant. Each whole warrant (a "Warrant"), is exercisable for an
additional common share ("Warrant Share") of Triex for a period of 18
months expiring June 20, 2009 at a price of $3.50. In the event that
Triex's common shares trade at a closing price on the TSX Venture
Exchange of greater than $4.50 per share for a period of 20 consecutive
trading days at any time after four months and one day after the
Closing Date, Triex may accelerate the expiry date of the Warrants by
giving notice to the holders thereof and in such case the Warrants will
expire on the 30th day after the date on which such notice is given by
Triex.
Triex has also closed its non-brokered private placement of 25,000
Flow-Through Shares at a price of $3.40 per Flow-Through Share and
94,700 Units at a price of $3.00 per Unit for total gross proceeds of
$369,100. The non-brokered Units have the same terms as the Units sold
under the Offering.
All securities issued are subject to a four month hold period expiring
April 21, 2008.
Triex will use the gross proceeds from the sale of the Flow-Through
Shares to incur Canadian Exploration Expenses. The net proceeds of the
Units will be used for working capital purposes.
The Agents received a cash fee equal to 6% of the gross proceeds of the
Offering and 110,094 compensation warrants ("Compensation Warrants")
exercisable for non-flow-through common shares ("Compensation Shares")
equal to 6% of the number of Flow-Through Shares and Units sold under
the Offering. The Compensation Warrants are exercisable at a price of
$3.10 per Compensation Share until December 20, 2008.
ON BEHALF OF THE BOARD OF
TRIEX MINERALS CORPORATION
"Michael Gunning"
Michael Gunning, President
For further information, please contact Michael Gunning at 604-687-6680
The TSX Venture Exchange does not accept responsibility for the
adequacy or the accuracy of this release. Not for dissemination to
United States newswire services or for dissemination in the United
States.
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Copyright (c) 2007 TRIEX MINERALS CORPORATION (TXM) All rights
reserved. For more information visit our website at
http://www.triexminerals.com/ or send mailto:info@triexminerals.com
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