Trading Symbol : GXM
VANCOUVER, April 13 /CNW Telbec/ - Geodex Minerals Ltd. (the "Company")
announces that it has engaged Jennings Capital Inc. ("Jennings Capital") as
lead agent in connection with a brokered private placement offering of up to
7,500,000 flow-through common shares at a price of $1.00 per share (the
"Brokered Offering"). The Company is also undertaking a concurrent
non-brokered private placement of up to 2,500,000 non flow-through common
shares at a price of $1.00 per share (the "Non-Brokered Offering").
The Company has the right to place up to a maximum of 2,500,000
flow-through shares from the Brokered Offering with subscribers to be
identified by the Company.
Jennings Capital will be paid a seven percent (7%) commission on the
aggregate gross proceeds of the Brokered Offering which it places. Jennings
Capital will be paid a commission of three and one half percent (3.5%) of the
aggregate gross proceeds of the portion of the Brokered Offering which is
placed by the Company. Jennings Capital will receive broker warrants equal to
seven percent (7%) of the aggregate number of flow through common shares which
it places and equal to three and one half percent (3.5%) of the aggregate
number of flow through common shares placed by the Company. The broker
warrants are exercisable at $1.00 per share for one year following closing. No
commissions are payable on shares sold under the Non-Brokered Offering.
Closing of the financing is scheduled to occur in early May, 2007.
Proceeds of the financing will be used for the Sisson Brook exploration
program and for general working capital. The private placement will not result
in a change of control of the Company.
The proposed financing is subject to regulatory approval.
ON BEHALF OF THE BOARD OF DIRECTORS
GEODEX MINERALS LTD.
'Jack M. Maris'
Jack M. Maris President
The TSX Venture exchange has not reviewed the contents of this news
release and accepts no responsibility for the adequacy or the accuracy
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; Visit our website at www.geodexminerals.org; Renmark
Financial Communications Inc.: Neil Murray-Lyon:
firstname.lastname@example.org; Christine Stewart:
email@example.com, (514) 939-3989, Fax: (514) 939-3717,