Micrex Development Corp. (TSXV:MIX) announced a private placement of 4,300,000 units at a price of CAD 0.15 per unit and 4,500,000 flow through shares at a price of CAD 0.20 per share for gross proceeds of CAD 1,545,000 on February 16, 2012. Each unit consists of one common share and one share purchase warrant. Each warrant entitles the holder to purchase an additional share of the company at an exercise price of CAD 0.30 per share for a period of 18 months from the date of issuance. EMD Financial Inc. will serve as placement agent to the company for the transaction.