Geologix Closes Oversubscribed $1.2 Million Unit Private Placement And Initiates Exploration Program At Tepal

http://www.geologix.ca/s/NewsReleases.asp?ReportID=793542&_Type=News&_Title=Geologix-Closes-Oversubscribed-1.2-Million-Unit-Private-Placement-And-Initi…

Vancouver, BC — June 22, 2017 — Geologix Explorations Inc. [TSX-V: GIX] (“Geologix” or “the Company“) is pleased to announce that it has completed its non-brokered private placement announced on May 15, 2017 (the “Financing”). The Financing was 20% oversubscribed and a total of 20,267,692 units were sold at $0.06 per unit (a “Unit”) for gross proceeds of $1,216,061.

Each Unit consisted of one common share and one-half of one non-transferable share purchase warrant. Each whole warrant entitles the purchase of one common share for three years at a price of $0.10. All securities issued and issuable pursuant to the Financing are subject to resale restrictions until October 22, 2017.

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