Vancouver, B.C. -- TerraX Minerals Inc. (TSX-V: TXR; Frankfurt: TX0; OTC Pink: TRXXF) has closed the previously announced non-brokered private placement of 2,340,500 flow-through shares at $0.40 per share for gross proceeds of $936,200. The shares are subject to a hold period expiring on August 16, 2016. A cash finder's fee was paid on this placement, along with the issuance of 140,430 finders warrants exercisable at $0.40 until April 15, 2018.
The full proceeds of this placement will be used to finance additional exploration this summer on TerraX's wholly owned Yellowknife City gold project, immediately north of Yellowknife in the Northwest Territories.