======================================================================= News - Wednesday, December 23, 2009 Geodex Minerals Issues Shares to Teck ======================================================================= Geodex Minerals Ltd. (TSX-V:GXM), ("Geodex") announces that pursuant to the agreement with Teck Resources Limited ("Teck") announced December 16, 2009, Geodex has issued 2 million Geodex units at a deemed price of $0.25 per unit. Each unit is comprised of one common share and one Geodex warrant. One full Geodex warrant will be exercisable into one additional Geodex common share at $0.25 per share for two years. All securities issued in connection with the Teck debt settlement will be subject to a four month hold. The securities were issued in respect to $2.5 million of exploration funding completed in 2009. Of that amount $500,000 of the financing was provided under a convertible grid promissory note, that debt now being extinguished through the conversion into shares at a deemed price of $0.25 per unit. ON BEHALF OF THE BOARD OF DIRECTORS GEODEX MINERALS LTD. Mark Fields, President & CEO For further information, please contact Investor Relations: Liana Shahinian, BBA ir@geodexminerals.com Erick Bertsch bertsch@geodexminerals.com (604) 689-7771, Toll free 1-888-999-3500 Visit our website at www.geodexminerals.com Forward Looking Statement Certain information regarding the Company contained in this press release may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, opinions, forecasts, projections or other statements that are not statements of fact. Although the Company believes that expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. The Company cautions that actual performance will be affected by a number of factors, many of which are beyond the Company's control, and that future events and results may vary substantially from what the Company currently foresees. ======================================================================= Copyright (c) 2009 GEODEX MINERALS LTD. (GXM) All rights reserved. For more information visit our website at http://geodex.pubco.net/ or send mailto:ir@geodexminerals.com Message sent on Wed Dec 23, 2009 at 3:50:02 PM Pacific Time ======================================================================= The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. .
Geodex is a gold and copper exploration company based in Canada.
Geodex holds various exploration projects in Canada.
Its main exploration properties are HARRY BROOK, MOUNT PLEASANT, ARMSTRONG BROOK, TURNBULL MOUNTAIN, VICTORIA LAKE PROPERTY, SISSON BROOK, TAMARACK LAKE, CRANBERRY LAKE and NEREPIS-CUNNINGHAM BROOK in Canada.
Its stock quote reached its highest recent level on January 18, 2008 at CA$ 99.00, and its lowest recent point on January 01, 2016 at CA$ 0.01.
Geodex has 2 779 827 shares outstanding.