30 September 2014
Yellowknife, Northwest Territories - TerraX Minerals Inc. (TSX-V: TXR; Frankfurt: TXO) has completed an initial closing of 5,550,000 units at $0.35 per unit for gross proceeds of $1,942,500. Each unit consists of one common share and one-half of one share purchase warrant, with each full warrant entitling the holder to purchase an additional common share at an exercise price of $0.50 per share until September 30, 2017. The shares, warrants and any shares acquired on the exercise of warrants will be subject to a hold period expiring on January 31, 2015. Cash finder’s fees will be payable with respect to a portion of this placement along with the issuance, to certain finders, of 28,000 finders warrants exercisable at $0.50 until September 30, 2017.