Georox Resources Inc. (TSXV:GXR) announced a non-brokered private placement of 4,200,000 units at a price of CAD 0.12 per unit for gross proceeds of CAD 504,000 on January 10, 2018. Each unit will consist of one common share and one transferable common share purchase warrant. Each warrant will entitle the holder to acquire one common share at a price of CAD 0.15 for a period of one year from the date of closing of the transaction. Following the closing transaction, in the event that the shares trade at a closing price of greater than CAD 0.25 per share for 10 consecutive trading days, the corporation may accelerate the expiry date of the warrants to expire on the 30th day after the date on which notice is given by the company. The company may, at its discretion, over-allot the offering to offer up to an additional two million units under the offering, which would raise additional gross proceeds of up to CAD 240,000, and result in total gross proceeds of up to CAD 744,000 being raised under the transaction. The company will pay finders' fees to eligible persons consisting of up to 8 per cent of the private placement proceeds in units equal to 8 per cent of the number of units sold in the transaction. The compensation units shall have the same terms as the units. The transaction is expected to be completed within thirty days including receipt of TSX Venture approval. All securities issued in connection with the transaction will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.