Offering's proceeds to be used for development of Don Roman project
By Devika Patel
Knoxville, Tenn., Jan. 16 - Tara Minerals Corp. negotiated a $2.03 million private placement of common shares with Panormus Trust and Investments Ltd. and Mediterranea Trust Ltd. on Jan. 9, according to an 8-K filed Thursday with the Securities and Exchange Commission. The investors will also provide a $4.73 million loan.
The company will sell restricted common shares at $0.30 per share, which is a 100% premium to the Jan. 8 closing share price of $0.15.
Proceeds will be used for development of the Don Roman project.
The Henderson, Nev., company explores for gold, silver, copper, lead, zinc, iron, industrial metals, and other associated metals.
| Issuer: | Tara Minerals Corp
|
| Issue: | Restricted common stock, loan
|
| Amount: | $6.75 million
|
| Warrants: | No
|
| Investor: | Panormus Trust and Investments Ltd. and Mediterranea Trust Ltd.
|
| Settlement date: | Jan. 9
|
| Stock symbol: | OTCBB: TARM
|
| Stock price: | $0.15 at close Jan. 8
|
| Market capitalization: | $16.83 million
|
|
|
| Shares
|
| Amount: | $2,025,000
|
| Price: | $0.30
|
|
|
| Loan
|
| Amount: | $4,725,000
|
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