Triex Minerals Corporation
TSX VENTURE : TXM

Triex Minerals Corporation

December 05, 2007 13:38 ET

Triex Minerals Updates Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 5, 2007) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Triex Minerals Corporation (TSX VENTURE:TXM) ("Triex") the Company wishes to update the previously disclosed information regarding its brokered private placement (the "Offering") being sold through a syndicate of agents led by Dundee Securities Corporation, including Toll Cross Securities Inc., and Wellington West Capital Markets Inc. The Offering has been amended to reflect that the Company will be offering up to 1,113,235 flow through shares at a price of $3.40 per share for gross proceeds of up to $3,784,999 and 871,667 units at a price of $3.00 per unit for gross proceeds of up to $2,615,001. As previously disclosed, each unit will consist of one common share and one-half of one non-transferable common share purchase warrant (the "Units"). Each whole warrant will entitle the holder to purchase one additional common share at a price of $3.50 per share for a period of 18 months.

Additionally, the previously announced non-brokered private placement has been amended to reflect that the Company will offer up to 80,000 flow-through shares at a price of $3.40 per share for gross proceeds of up to $272,000 and up to 220,000 Units at $3.00 per Unit for gross proceeds of up to $660,000.00.

All other terms of the Offering remain the same as previously announced.

The securities being offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States in the absence of registration or an applicable exemption from the registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to purchase securities in the United States. The TSX Venture has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Triex is a Canadian junior mineral exploration company focused on uranium opportunities in North America. The company is working in three proven districts, advancing nine core projects which span grass roots reconnaissance exploration to advanced-stage resource delineation. The 2007 exploration budget is $8.7 million.

TRIEX MINERALS CORPORATION

Michael Gunning, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Contact Information

  • Triex Minerals Corporation
    Michael Gunning
    President
    (604) 687-6680
    (604) 687-1448 (FAX)
    Website: www.triexminerals.com