On May 13, 2016, TerraX Minerals Inc. (TSXV: TXR; Frankfurt: TX0; OTC Pink: TRXXF) announced that it had closed the final tranche of a non-brokered private placement of units at $0.35 per unit and a private placement of flow-through shares at $0.40 per flow-through share, having raised aggregate gross proceeds of $2,051,900. Each unit will be comprised of one common share and one-half of one share purchase warrant, with each full warrant entitling the holder to purchase an additional common share at an exercise price of $0.50 per share until May 13, 2019.
With completion of this last tranche of the non-brokered financing, TerraX has now raised a total of $3,211,450 in both flow-through and non-flow-through financing that will used for general working capital and to finance additional drilling this summer on TerraX’s wholly owned Yellowknife City gold project, immediately north of Yellowknife in the Northwest Territories.
Kevin Sorochan (securities) and Gerald Courage (tax) of Miller Thomson advised TerraX in these transactions.
