By Sheri Kasprzak
Atlanta, Dec. 17 - Tanqueray Resources Ltd. said Friday it has closed a private placement for proceeds of C$1.6 million.
The company sold 4 million flow-through units at C$0.40 each.
The units are comprised of one flow-through share and one half flow-through share warrant.
The whole warrants allow for an additional flow-through share at C$0.60 each through Dec. 31, 2005.
Calgary, Alta.-based Tanqueray is a gold exploration, acquisition and development company.
| Issuer: | Tanqueray Resources Ltd.
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| Issue: | Flow-through units of one flow-through share and one half flow-through warrant
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| Amount: | C$1.6 million
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| Shares: | 4 million units
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| Price: | C$0.40
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Dec. 31, 2005
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| Warrant strike price: | C$0.60
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| Announcement date: | Nov. 25
|
| Settlement date: | Dec. 16
|
| Stock price: | C$0.35 at close Nov. 25
|
| Stock price: | C$0.255 at close Dec. 16
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