Private Placement of 750,000 Units Completed; Paradox Public Relations retained
TERRAX MINERALS INC.
Suite 1400 – 400 Burrard Street Vancouver, B.C.
V6C 3G2
Tel : (604) 689-1749
April 1, 2010 Symbol: TXR
NEWS RELEASE
Private Placement of 750,000 Units Completed; Paradox Public Relations retained
TerraX Minerals Inc. has completed the previously announced non-brokered private placement of 750,000 units at a price of $0.20 per unit for net proceeds to the Company of $150,000. Each unit consists of one share and one warrant, with each warrant exercisable to purchase an additional share of the Company at $0.25 until March 31, 2012. All of the shares, warrants and any shares issued upon exercise of the warrants are subject to a hold period and may not be traded until August 1, 2010. The full proceeds of this placement will be applied to working capital.
In addition, TerraX has retained the services of Paradox Public Relations Inc. of Montreal as strategic investor relations consultants to the company. Paradox will focus on developing and expanding TerraX’s communications with the investment community through a comprehensive investor relations program. Paradox has provided investor relations services to businesses in multiple industries for the past eight years. As at April 1, 2010 Paradox owns, directly or indirectly, approximately 500,000 common shares and 500,000 warrants of Prophecy,
Paradox has been engaged for a 24-month term, subject to acceptance for filing by the TSX Venture Exchange. Under the terms of the agreement, Paradox will be paid $5,000 per month and has been granted 400,000 incentive stock options exercisable at $0.30 per share for a period of two years, subject to vesting provisions. The agreement can be terminated by either party upon 30 days notice after an initial period of six months.
On behalf of the Board of Directors
“STUART ROGERS”
Stuart Rogers Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.