12 April 2016
Vancouver, B.C. – TerraX Minerals Inc. (TSX-V: TXR; Frankfurt: TX0; OTC Pink: TRXXF) has agreed to a non-brokered private placement of 2,340,500 flow-through shares at $0.40 per share for gross proceeds of $936,200. There will be no warrants issued to the placees in conjunction with this placement.
Closing of this placement is scheduled for April 15 2016, subject to acceptance for filing by the TSX Venture Exchange. All shares will be subject to a four-month hold period from the date of issuance. Finder's fees will be payable on a portion of this placement.
The full proceeds of this placement will be used to finance additional exploration this summer on TerraX's wholly owned Yellowknife City gold project, immediately north of Yellowknife in the Northwest Territories.