Trading Symbol : GXM
Frankfurt : G2W
VANCOUVER, Jan. 8 /CNW Telbec/ - Geodex Minerals Ltd. (TSX-V: GXM)
("Geodex") announces that it has accepted private placement subscriptions for
1,479,370 units at $1.15 per unit. Each unit is comprised of one common share
and one half share purchase warrant. One full warrant is required to purchase
one additional common share of Geodex at $1.65 for one year following closing.
Geodex may force conversion of the outstanding warrants on 30 days notice to
the warrant holders in the event Geodex's shares close at a trading price of
$2.00 or greater for 10 consecutive trading days. Cash proceeds from the
private placement of $1,701,275.00 will be used to fund ongoing mineral
exploration activities and for working capital. Commissions in the amount of
$20,577.50cdn and 17,850 warrants were paid to third parties who assisted in
placing a portion of the private placement.
Closing of the private placement is subject to final TSX-V approval.
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.
ON BEHALF OF THE BOARD OF DIRECTORS
GEODEX MINERALS LTD.
'Jack M. Maris'
Jack M. Maris,
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the accuracy or adequacy of this release.
For further information:
For further information: Christopher R. Anderson, V.P Business
Development, (604) 689-7771, Toll free 1-888-999-3500,
email@example.com; Renmark Financial Communications Inc.: Neil
Murray-Lyon, firstname.lastname@example.org; Christine Stewart,
email@example.com; Media: Eva Jura, firstname.lastname@example.org;
(514) 939-3989, Fax: (514) 939-3717, www.renmarkfinancial.com