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CONTACT:
Investor Relations
ir@geologix.ca
T: 604.428.3664
Toll Free: 1.888.694.1742
www.geologix.ca
PRESS RELEASE
TSX: GIX
Frankfurt, Berlin, Stuttgart & Munich: GF6
GEOLOGIX UPDATE AND PRIVATE PLACEMENT OFFER
Vancouver, BC – November 12, 2014 – Geologix Explorations Inc. [TSX: GIX] (“Geologix” or “the
Company”) is pleased to announce the following updates on its affairs.
Geologix has received four environmental permit approvals from SEMARNAT (Secretaria de
Medio Ambiente y Recursos Naturales) in Mexico in addition to its existing approved primary
environmental permit (MIA). The Company’s Tepal project in Mexico is now fully compliant in its
environmental and archeological permits.
The Company has also completed the sale of the Consejo Property in Durango State to Argonaut
having received the second and final payment of US$348,000.
The Company intends to carry out a private placement with various investors of up to $500,000
in convertible, unsecured, 10% (interest payable every six months), three year promissory notes.
Insiders have committed to provide $330,000 of the financing. Priority for placement of the
balance of the financing will be given to existing shareholders.
The principal and accrued interest due under the notes is convertible at any time into common
shares of the Company at $0.045 per share. The Company may repay the note with interest
after six months. Upon receipt of the Company’s repayment notification, note holders will have
a 10 day election period to convert the note plus accrued interest into shares or to receive cash.
Dunham Craig, Geologix’s President and CEO, stated: “Although we have sufficient cash and
receivables to operate through 2015, the Company has determined to strengthen its balance
sheet with a participating priority given to existing shareholders who share the same
fundamental asset value opinion as management. We continue to keep our 100% owned Tepal
Project asset in a clean and unencumbered condition until funding conditions and terms are
reasonable for both the project and our shareholders.”
On behalf of the Board of Directors
Dunham Craig, President & CEO
Investor Relations
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
For further information please contact Investor Relations, either by email (ir@geologix.ca) or
phone (604-428-3664).
About Geologix
Geologix Explorations Inc. is a mineral exploration and development company focused on
acquiring, exploring, and developing mineral resource opportunities with the potential to host
profitable mining operations. The Company's primary focus is the Tepal Gold-Copper Porphyry
Project in Michoacán state, Mexico. On March 19, 2013, the Company announced a
Prefeasibility Study for the Project that indicated an 11.5 year mine life with payable production
of 1.12 M oz. gold and 503 M lbs. copper, resulting in a post-tax NPV of $421 million at a 5%
discount rate. The positive results of this study have led the Company to continue to work
towards both completing a Feasibility Study for the Project and arranging the necessary
financing to advance the Project to production.
This Press Release may contain statements which constitute 'forward-looking, including statements
regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its
officers with respect to the future business activities and operating performance of the Company. The
words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and
similar expressions, as they relate to the Company, or its management, are intended to identify such
forward-looking statements. Investors are cautioned that any such forward-looking statements are not
guarantees of future business activities or performance and involve risks and uncertainties, and that the
Company's future business activities may differ materially from those in the forward-looking statements as
a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the
Canadian securities regulatory authorities, including the Company's Annual Information Form and
quarterly and annual Management's Discussion & Analysis, which may be viewed on SEDAR at
www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions
underlying the forward-looking statements prove incorrect, actual results may vary materially from those
described herein as intended, planned, anticipated, believed, estimated or expected. Although the
Company has attempted to identify important risks, uncertainties and factors which could cause actual
results to differ materially, there may be others that cause results not be as anticipated, estimated or
intended. The Company does not intend, and does not assume any obligation, to update these forwardlooking statements.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.