Geodex Closes $95,100 Private Placement, South Dungarvon Drilling Underway Shortly
December 09 2013 - 11:21AM
Marketwired
Geodex Closes $95,100 Private Placement, South Dungarvon Drilling
Underway Shortly
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 9, 2013) -
Geodex Minerals Ltd. (TSX-VENTURE:GXM)(FRANKFURT:G2W), ("Geodex")
announces that it has closed a non-brokered unit private placement
of $90,000 and $5,100 in flow-through shares. Geodex will issue
1,500,000 units (the "Units") at $0.06 per Unit. Each Unit is
comprised of one common share and one half share purchase warrant
(a "Warrant"). Each full Warrant is exercisable into one Geodex
common share at $0.10 per share for a period of 12 months from the
closing date. Geodex will also issue 85,000 flow-through shares at
$0.06 per share.
No finder's fees or commissions will be paid in connection with
this private placement. All securities issued in connection with
this private placement are subject to a four month hold period
which expires on April 7th, 2014.
Proceeds from the private placement will be used to fund drill
programs on the South Dungarvon Tin and Benjamin Copper-Molybdenum
Projects in New Brunswick, as well as for general corporate
purposes.
The drilling at the South Dungarvon Tin Project is scheduled to
begin the week of December 9th. Geodex will drill test an area of
tin soil anomalies and surface mineralization up to 3.48 per cent
tin west of where Geodex intersected tin mineralization in its
spring drill program (see Geodex news releases of August
1st and November 27th,
2013). The drilling at the Benjamin Copper-Molybdenum Project
will occur in the New Year. Geodex's disclosure of a technical or
scientific nature in this press release has been reviewed and
approved by David Martin, P.Geol., Geodex's vice-president, New
Brunswick operations, who acts as the qualified person under the
definition of National Instrument 43-101.
About Geodex
Geodex is a mineral resource company focused on New Brunswick,
Canada. Geodex has continued to actively develop its exploration
portfolio focused on the discovery of base and critical metals in
New Brunswick. Geodex has operated for a decade in New Brunswick
where it has had a number of discovery and development successes
including Sisson and Mount Pleasant West.
ON BEHALF OF THE BOARD OF DIRECTORS
GEODEX MINERALS LTD.
Mark Fields, President & CEO
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.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Geodex Minerals Ltd.Investor Relations(604) 689-7771 or Toll
free 1-888-999-3500www.geodexminerals.com
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