TerraX closes final tranche of non-brokered private placement; total raised now $7.5 Million

24 August 2016

Vancouver, B.C. - TerraX Minerals Inc. (TSX-V: TXR; Frankfurt: TX0; OTC Pink: TRXXF) is pleased to announce that it has closed the final tranche of a non-brokered private placement of 17,500,000 flow-through shares at $0.40 per share announced July 4, 2016 with the issuance of a further 8,095,154 shares at $0.40 per share for gross proceeds of $3,238,061.60, increasing the total raised in this financing to $7.5 Million. Finder's fees in cash were paid with respect to this placement along with 1,447,500 finder's shares and 1,266,475 finder's warrants exercisable at $0.42 until August 19, 2018. The shares, and all shares issued on the exercise of warrants, are subject to a hold period expiring on December 19, 2016.