VANCOUVER, BC Goldex Resources Corporation (TSX VENTURE: GDX) (Goldex or the Company) has entered into a loan agreement (the Loan Agreement) with JER Enterprises Ltd. (the Lender).
The Loan Agreement provides for maximum credit of CDN $500,000.00 and bears interest at 8% per annum. The Lender shall also receive from the Company bonus shares (the Bonus Shares) representing 20% of the aggregate sum of the Loan upon approval of the TSX Venture Exchange.
The sole shareholder of the Lender is James Ravannack, CEO of Goldex Resources Corporation. Proceeds of the Loan will be used to replace certain promissory notes issued by the Company to Mr. James Ravannack and to provide working capital.
The Company intends to repay the loan by means of future private placement financings.
Goldex is a junior resources company exploring for gold in the Americas. Goldex is listed on the TSX Venture Exchange (TSX VENTURE: GDX).
CHUCK ROSS, President
GOLDEX RESOURCES CORPORATION
For more information please visit: www.goldex.ca
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.
Forward-Looking Statements
The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein.
