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Foxpoint: Telegraph Gold will conduct C$15 million private placement
Offering brokered by agent syndicate; companies arrange amalgamation
By Devika Patel
Knoxville, Tenn., Jan. 24 - Foxpoint Capital Corp. said Telegraph Gold Inc. will conduct a private placement to raise at least C$15 million. Foxpoint then plans to acquire Telegraph's outstanding shares, including those sold in the financing, in an amalgamation involving 2308800 Ontario Inc.
The placement will be conducted through a syndicate of agents.
Foxpoint will change its name to Telegraph Gold Corp. and plans to become a Tier 1 mining issuer.
Upon completion of the acquisition, Foxpoint shares will be issued to all Telegraph shareholders, including the financing participants. Each Telegraph shareholder will receive one Foxpoint share for each Telegraph share.
Foxpoint is a capital pool company in Toronto.
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