Geodex Closes Flow Through Financing
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/13/13 -- Geodex Minerals Ltd. (TSX VENTURE: GXM)(FRANKFURT: G2W) ("Geodex") announces that it has closed the previously announced non-brokered flow through private placement. The Company will issue 1,745,000 shares of Geodex (the "Shares") at $0.06 per Share, raising $104,700.
Proceeds from the private placement will be used for the drill program on the Dungarvon Project in New Brunswick to test the Peaked Mountain tungsten-molybdenum target and advance the South Dungarvon tin target, as well as for other exploration work.
Geodex will pay finder's fees of $4,662 and 77,700 broker's warrants ("Broker's Warrants") exercisable at $0.06 per Broker's Warrants for 12 months in accordance with TSX Venture Exchange guidelines. All securities issued pursuant to the private placement are subject to a four month hold period.
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 critical metals in New Brunswick. Its current main focus is the Dungarvon Tungsten-Molybdenum Project. 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 Geodex 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 Geodex 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. Geodex cautions that actual performance will be affected by a number of factors, many of which are beyond Geodex's control, and that future events and results may vary substantially from what Geodex 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.
Contacts:
Geodex Minerals Ltd.
Investor Relations
604-689-7771 or Toll Free: 1-888-999-3500
604-689-5528 (FAX)
www.geodexminerals.com
