Company will sell 15,384,615 flow-through common shares at C$0.13 each
By Devika Patel
Knoxville, Tenn., Dec. 19 - Tamerlane Ventures Inc. said it plans a C$2 million non-brokered private placement of stock.
The company will sell 15,384,615 flow-through common shares at C$0.13 each. The price per share represents an 18.18% premium to the Dec. 16 closing share price of C$0.11.
Settlement is expected Dec. 28.
Proceeds will be used principally for a drill program focusing on the K-68 and M-67 deposits. The company will also use proceeds for the geographical delineation of 35 exploration targets identified by an airborne survey of the Pine Point property, as well as for other regional base metals exploration activities.
Tamerlane is a base metals exploration and development mining company in Blaine, Wash.
| Issuer: | Tamerlane Ventures Inc.
|
| Issue: | Flow-through common stock
|
| Amount: | C$2 million
|
| Shares: | 15,384,615
|
| Price: | C$0.13
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 19
|
| Settlement date: | Dec. 28
|
| Stock symbol: | TSX Venture: TAM
|
| Stock price: | C$0.11 at close Dec. 16
|
| Market capitalization: | C$7.87 million
|
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