New Issue: Terrax Minerals sells C$1.09 million of units through private placement

By Devika Patel

Knoxville, Tenn., June 3 - Terrax Minerals Inc. said it completed a non-brokered private placement of units for C$1.09 million.

The company sold 3,631,266 units of one common share and one half-share warrant at C$0.30 each. Each full warrant is exercisable at C$0.40 until June 2, 2012.

Proceeds will enable the company to accelerate exploration at its three gold properties in northwest Ontario.

Terrax is a Vancouver, B.C., gold and diamond explorer.

Issuer:	Terrax Minerals Inc.
Issue:	Units of one common share and one half-share warrant
Amount:	C$1,089,380
Units:	3,631,266
Price:	C$0.30
Warrants:	One half-share warrant per unit
Warrant strike price:	C$0.40
Warrant expiration:	June 2, 2012
Agent:	Non-brokered
Settlement date:	June 3
Stock symbol:	TSX Venture: TXR
Stock price:	C$0.395 at close June 2
Market capitalization:	C$5.4 million

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