Neoterrex closes $500,000 private placement

Executive Summary

• Neoterrex Minerals Inc. has closed a non-brokered private placement, raising $500,000 in gross proceeds.
• The company issued 2,000,000 units at $0.25 per unit, with each unit comprising one common share and one-half of a common share purchase warrant.
• Proceeds are designated for exploration on the company's critical metal projects in Quebec, specifically the Strange Lake West project.

Key Details

• Gross Proceeds: $500,000
• Units Issued: 2,000,000 units
• Price Per Unit: $0.25
• Investors: Sidex Limited Partnership ($250,000) and NQ Mining Investment ($250,000)
• Warrant Terms: Each unit includes one-half of a common share purchase warrant.
• Warrant Exercise Price: $0.40 per share
• Warrant Expiry: 24 months from the date of issuance
• Hold Period: Four months and one day
• Use of Proceeds: Exploration on critical metal projects in Quebec, including the Strange Lake West project.
• Administrative Fees: $20,000 paid to subscribers in connection with the private placement.
• Finders' Fees: None paid.
• Regulatory Status: Subject to final approval of the TSX Venture Exchange.

Notable Quotes

• "We are extremely pleased with the recognition and support provided to Neoterrex by Sidex and NQMI... Their investment follows a rigorous selection process, which we believe validates the potential of the company's critical metal projects." — Mathieu Stephens, President and CEO