Geologix Announces Intention to Complete $3 Million Brokered Private Placement

http://www.geologix.ca/s/NewsReleases.asp?ReportID=784860&_Type=News&_Title=Geologix-Announces-Intention-to-Complete-3-Million-Brokered-Private-Placeme…

Vancouver, BC – April 4, 2017 – Geologix Explorations Inc. [TSX-V: GIX] (“Geologix” or the “Company“) is pleased to announce that it has retained Eight Capital to act as lead agent, on behalf of a syndicate of agents (collectively, the “Agents“), to offer for sale, on a “best efforts” private placement basis, units of shares and warrants of the Company (“Units”) to be structured and priced in the context of the market, for total gross proceeds of up to $3,000,000 (the “Offering“).

The Company has granted the Agents an option to offer for sale up to an additional 15% of the Units at the offering price, exercisable up to 48 hours prior to the closing of the Offering.

The net proceeds of the Offering will be used for exploration and development expenditures at the Company’s Tepal Gold/Copper Project, working capital and general corporate purposes.

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