Geodex Minerals Inc. (�Geodex� or the �Company�) (TSX-V: GXM) has closed a $660,000 non-brokered private placement offering of 6,600,000 units (the �Units�) at $0.10 per Unit (the �Offering�). Each Unit is 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. The Company paid total finders fees of $29,440 in connection with the Offering. Proceeds from the private placement will be used for general corporate purposes.
All of the securities issued under the Offering including any shares issued on exercise of Warrants will be subject to a four month hold which expires March 23, 2012.
About Geodex
Geodex is a mineral resource company focused on New Brunswick, Canada with its primary asset being its 30% Sisson ownership interest. Geodex is also actively developing its exploration portfolio focused on the discovery of critical metals in New Brunswick. Geodex has operated for nine years in New Brunswick where it has had a number of discovery and development successes, Sisson and Mount Pleasant West being the best examples. ON BEHALF OF THE BOARD OF DIRECTORS GEODEX MINERALS LTD. Mark Fields President & CEO
Geodex is a gold and copper exploration company based in Canada.
Geodex holds various exploration projects in Canada.
Its main exploration properties are HARRY BROOK, MOUNT PLEASANT, ARMSTRONG BROOK, TURNBULL MOUNTAIN, VICTORIA LAKE PROPERTY, SISSON BROOK, TAMARACK LAKE, CRANBERRY LAKE and NEREPIS-CUNNINGHAM BROOK in Canada.
Its stock quote reached its highest recent level on January 18, 2008 at CA$ 99.00, and its lowest recent point on January 01, 2016 at CA$ 0.01.
Geodex has 2 779 827 shares outstanding.