Geologix Explorations Inc.

Geologix Explorations Inc.

November 16, 2010 09:31 ET

Geologix Explorations Inc.: Share Price Triggers Warrants' Forced Exercise Provision

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 16, 2010) - Geologix Explorations Inc. (TSX:GIX)(FRANKFURT:GF6)(BERLIN:GF6)(MUNICH:GF6)(STUTTGART:GF6) (the "Company" or "Geologix") announces that warrantholders of 7,175,612 common share purchase warrants issued on March 8, 2010 with an exercise price of $0.30 (the "Warrants") are now subject to a 30-day forced exercise provision as the Company's daily volume weighted average share price has been greater than $0.50 for 20 consecutive trading days.

In order to exercise the Warrants, please deliver the warrant certificate (the "Warrant Certificate") representing the Warrants to be exercised, a duly completed and executed exercise form in the form attached to the Warrant Certificate and a certified cheque, bank draft or money order in lawful money of Canada, payable to or to the order of Geologix Explorations Inc. in an amount equal to $0.30 multiplied by the number of common shares subscribed for, to the offices of Computershare Trust Company of Canada at 200-510 Burrard Street, Vancouver, British Columbia, V6C 3B9 or 11th Floor, 100 University Avenue, Toronto, Ontario, M5J 2Y1.

Geologix Explorations Inc. is a mineral exploration company focused on acquiring, exploring and developing mineral resource opportunities with the potential to host world class mineral deposits. The Company's primary focus is the Tepal Gold-Copper Porphyry Project in Michoacán State, Mexico, where the Company is aggressively exploring for potential resource expansion, of the project in its ongoing effort to upgrade and increase the scale of this emerging project.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Geologix Explorations Inc.
    Jeffrey Wilson
    V.P. Corporate Communications
    (604) 694-1742
    Toll Free in Canada and USA: 1 (888) 694-1742
    Geologix Explorations Inc.
    Dunham Craig
    President & CEO
    (604) 694-1742