TERRAX MINERALS INC. ("TXR")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: March 13, 2014
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for expedited filing documentation of a Claim Purchase Agreement dated February 17, 2014 between Terrax Minerals Inc. (the "Company") and Panarc Resources Ltd. (the "Vendor") whereby the Company may acquire a 100% interest in three mineral claims (the "Property") totalling 3,443.5 acres located approximately 15 kilometers north of the city of Yellowknife.
The consideration payable to the Vendor is 75,000 common shares of the Company.
The Vendor will retain a 1% net smelter return royalty in respect of the Property, of which 0.5% may be purchased by the Company for $1,000,000 at any time.
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