TerraX Minerals closes $7.5 million non-brokered private placement

August 18, 2016

On August 18, 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 17,500,000 flow-through shares at $0.40 per share, for a total raised in this financing of $7.5 million.

With completion of this financing, TerraX has cash on hand in excess of $11.7 million which will be more than adequate to fund the 27,000 meter drill program and extensive field exploration programs currently underway on its wholly owned Yellowknife City gold project in the Northwest Territories.

Kevin Sorochan (securities) and Gerald Courage (tax) of Miller Thomson advised TerraX on this transaction.