TerraX Minerals Inc. has agreed to a non-brokered private placement of 3,000,000 units at a price of $0.30 per unit for gross proceeds of $900,000. Each unit will be comprised of one common share and one half-warrant, with each full warrant entitling the holder to purchase an additional share at an exercise price of $0.40 per share for a period of two years from the date of issue. A finders fee may be payable on a portion of this placement, which is subject to acceptance for filing by the TSX Venture Exchange.
TerraX agrees to Private Placement for $900,000
May 17, 2010
On behalf of the Board of Directors