By Laura Lutz
Des Moines, March 22 - Tajzha Ventures Ltd. announced revised terms for its previously announced private placement of units and settled a first tranche for C$100,450.
The full placement will still include some combination of non flow-through units at C$0.30 per unit and flow-through units at C$0.35 per unit, for proceeds of up to C$1 million.
The prices of the non flow-through and flow-through units were previously set at C$0.35 and C$0.40, respectively.
Each non flow-through unit will consist of one non flow-through share and one warrant.
The warrants from the non flow-through units will each be exercisable for two years, at C$0.35 in the first year and at C$0.40 in the second year. Previously, they were to be exercisable at C$0.525 each for one year.
Each flow-through unit will consist of one flow-through share and one warrant.
The warrants from the flow-through units will each be exercisable for one non-flow-through share for two years, at C$0.40 in the first year and at C$0.45 in the second year. They were previously expected to be exercisable at C$0.60 each for one year.
On March 20, the company settled a first tranche that included 287,000 flow-through units for proceeds of C$100,450.
Proceeds of the non-brokered placement will be used for exploration.
Tajzha is an oil and gas company based in Calgary, Alta.
| Issuer: | Tajzha Ventures Ltd.
|
| Issue: | Units of one flow-through share and one warrant; units of one non flow-through share and one warrant
|
| Amount: | C$1 million
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 7
|
| Amended: | March 22
|
| Settlement date: | March 20 (for C$100,450)
|
| Stock symbol: | TSX Venture: TJZ
|
| Stock price: | C$0.34 at close Feb. 14
|
| Stock price: | C$0.40 at close March 22
|
|
|
| Flow-through units
|
| Price: | C$0.30
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.35 in the first year; C$0.40 in the second year
|
|
|
| Non flow-through units
|
| Price: | C$0.35
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40 in the first year; C$0.45 in the second year
|
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