Tesoro Minerals Corp. Announces Closing of Private Placement
January 20 2014 - 1:03PM
Marketwired
Tesoro Minerals Corp. Announces Closing of Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 20, 2014) -
Tesoro Minerals Corp. (the "Company") (TSX-VENTURE:TES) is pleased
to announce it has closed the third and final tranche (the "Third
Tranche") of a non-brokered private placement previously announced
on November 25, 2013 (the "Offering"). The Company had previously
closed the first tranche of the Offering (the "First Tranche") on
December 17, 2013 by issuing 4,550,000 Units, and the second
tranche of the Offering (the "Second Tranche") on January 10, 2014
by issuing 10,050,000 Units.
The Offering comprised 18,000,000 units ("Units") at a price of
0.10 per Unit for gross proceeds of $1,800,000. Each Unit comprises
one common share ("Common Share") and one common share purchase
warrant (the "Warrants"). Each Warrant entitles the holder to
purchase one additional Common Share at a price of $0.20 per Common
Share for the first year from the date of issue, and at an
additional $0.05 per Common Share for each subsequent year until
the expiry of the Warrants five years after the date of issue.
The Third Tranche comprised 3,400,000 Units. The Company paid
finder's fees for part of the Third Tranche of 7% cash and 7%
Broker Warrants for a total of 91,000 Broker Warrants. A total of
1,057,000 Broker Warrants have been paid in connection with the
Offering.
The Common Shares issued in the Third Tranche and the Common
Shares to be issued pursuant to the exercise of the Warrants and
Broker Warrants are all subject to a hold period expiring on May
18, 2014.
Completion of the Offering is subject to the final approval of
the TSX Venture Exchange.
The net proceeds from the Offering will be used for the further
evaluation of the Company's gold exploration projects in Colombia
and for general corporate purposes.
About Tesoro Minerals Corp.
Tesoro Minerals Corp. (TSX-VENTURE:TES) is a mineral exploration
company with major land positions in three of Colombia's most
prolific gold regions including Antioquia, Tolima-Quindio, and
Santander-Norte de Santander. The Company has assembled a team of
experienced geoscientists with extensive exploration experience in
the Americas with the aims of advancing its assets towards
discovery.
On Behalf of Tesoro Minerals Corp.
Peter Tegart, President and CEO
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Tesoro Minerals Corp.Peter TegartPresident and
CEOpeter.tegart@gmail.com
Tesoro Minerals (TSXV:TES)
Historical Stock Chart
From Oct 2024 to Nov 2024
Tesoro Minerals (TSXV:TES)
Historical Stock Chart
From Nov 2023 to Nov 2024
