Oct 21, 2009 TerraX Minerals Inc. has closed the previously announced non-brokered private placement of 1,000,000 units at a price of $0.20 per unit. Due to demand, the placement was increased to 1,325,000 units for gross proceeds of $265,000. Each unit will consist of one common share and one share purchase warrant, with each warrant entitling the holder to purchase an additional share at an exercise price of $0.25 per share until October 20, 2011. The shares and any shares acquired on the exercise of warrants will be subject to a hold period expiring on February 21, 2010. A finder's fee of $18,000 was paid with respect to a portion of this placement. On behalf of the Board of Directors "STUART ROGERS" Stuart Rogers Director | |