TAO Minerals cancels $1 million sale of convertible notes

By Devika Patel

Knoxville, Tenn., Oct. 3 - TAO Minerals, Ltd. said it will not proceed with a $1 million private placement of convertible notes that priced on April 4.

The company said that the conversion rights for the $125,000 tranche that has already settled will be held for an additional six months.

Based in Medellin, Colombia, Tao is a gold and diamond exploration company.

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