Geodex Closes Sale Of Tungsten Project

Geodex Minerals (TSXV:GXM,FWB:G2W) announced it has completed the sale of its 30% interest in the Sisson tungsten-molybdenum project in New Brunswick, Canada.

As quoted in the press release:

The consideration received is comprised of 16,003,700 common shares of Northcliff Resources Ltd. (“Northcliff”), $1 million in cash and the return to Geodex for cancellation of 3,333,333 Geodex common shares that Northcliff purchased in 2010.

The Northcliff common shares received by Geodex will be distributed to its common shareholders on the basis of 0.145 Northcliff shares for each Geodex share owned.

Click here to read the Geodex Minerals (TSXV:GXM) press release.