TerraX Minerals Inc. has agreed to a non-brokered private placement of 1,000,000 units at a price of $0.20 per unit for gross proceeds of $200,000. Each unit will be comprised 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 for a period of two years from the date of issue. A finders fee may be payable on a portion of this placement, which is subject to acceptance for filing by the TSX Venture Exchange.
Private Placement of 1,000,000 Units
16. September 2009
On behalf of the Board of Directors