Geodex Minerals Ltd.

Geodex Minerals Ltd.

October 08, 2013 11:00 ET

Geodex Announces Unit Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 8, 2013) - Geodex Minerals Ltd. (TSX VENTURE:GXM) (FRANKFURT:G2W), ("Geodex") announces that it will proceed with a non-brokered private placement of up to 4,200,000 million units and shares of Geodex. It is expected that the financing will comprise a combination of non-flow through units (the "Non-Flow-Through Units") and flow-through shares ("Flow-through Shares"). The Non-Flow-Through Units will be priced at $0.06 per Unit. Each Unit will be comprised of one common share and one half share purchase warrant (a "Warrant"). Each full Warrant will be exercisable into one Geodex common share at $0.10 per share for a period of 12 months from the closing date. Each Flow-Through Share will be priced at $0.06 for one common share.

Proceeds from the private placement will be used for work programs on Geodex's New Brunswick projects and for general corporate purposes. Geodex plans to complete drill programs on the Benjamin Copper-Molybdenum and South Dungarvon Tin Projects in addition to further work on its Pabineau Molybdenum Project and other projects.

Geodex may pay finder's fees on a portion of the financing in accordance with TSX Venture Exchange guidelines. All securities issued on the proposed private placement will be subject to a four month hold period. The placement is subject to the approval of the TSX Venture Exchange.

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 base and critical metals in New Brunswick. 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.



Mark Fields, President & CEO

Forward Looking Statement

Certain information regarding the Company 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 the Company 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. The Company cautions that actual performance will be affected by a number of factors, many of which are beyond the Company's control, and that future events and results may vary substantially from what the Company currently foresees.

Contact Information