Geologix Announces Terms of $3.0 Million Private Placement

Vancouver, BC — April 27, 2017 — Geologix Explorations Inc. [TSX-V: GIX] (“Geologix” or the “Company“) is pleased to announce that it has finalized the terms of its previously announced private placement financing, led by Eight Capital on behalf of a syndicate of agents, including PI Financial Corp. and Red Cloud Klondike Strike Inc. (together, the “Agents“). The Agents have agreed to offer for sale units of the Company (the “Units“), on a “best efforts” private placement basis, subject to all required regulatory approvals, at a price per Unit of $0.065 (the “Offering Price“), for total gross proceeds of up to approximately $3,000,000 (the “Offering“).

Each Unit shall consist of one common share of the Company (a “Share“) and one half of one common share purchase warrant (a “Warrant“). Each full Warrant shall entitle the holder thereof to acquire one additional Share at a price of $0.10 for a period of 36 months following the closing of the Offering.

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