By Devika Patel
Knoxville, Tenn., Nov. 12 - Tamerlane Ventures Inc. announced it has closed a C$1.2 million private placement of shares on Nov. 10. The deal priced on Oct. 26 for C$1.5 million.
The company sold 811,667 flow-through shares at C$1.50 apiece. It originally meant to sell 1 million shares. The shares have a four-month hold period.
The company will pay a 6% cash finder's fee.
Proceeds will be used to provide drill confirmation of indicated resources at the company's Pine Point lead-zinc property.
Based in Blaine, Wash., Tamerlane is a mineral exploration company with base metal development projects in Canada and Peru.
| Issuer: | Tamerlane Ventures Inc.
|
| Issue: | Flow-through shares
|
| Amount: | C$1,217,500
|
| Shares: | 811,667
|
| Price: | C$1.50
|
| Warrants: | No
|
| Fees: | 6% in cash
|
| Pricing date: | Oct. 26
|
| Settlement date: | Nov. 10
|
| Stock symbol: | TSX Venture: TAM
|
| Stock price: | C$1.24 at close Oct. 25
|
| Stock price: | C$0.89 at close Nov. 9
|
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