Business
TIGRIS CLOSES $8,800,000 PRIVATE PLACEMENT
Feb. 23, 2011 (Canada NewsWire Group) -- << /NOT FOR DISSEMINATION TO UNITED STATES NEWS WIRE...
About this update from Encore Energy Corp.
[{"type":"text","content":"\n\n\n\n Feb. 23, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\n >\n\n\nVANCOUVER, Feb. 23 /CNW/ - Tigris Uranium Corp. (TSX.V: TU) (the "Company") announces that it has closed the non-brokered placement announced on February 8, 2011. A total of 11,000,000 units were issued at a price of $0.80 per unit for gross proceeds to the Company of $8,800,000. Each unit consists of one common share and one half of one non-transferable share purchase warrant. Each full warrant will entitle the holder to purchase an additional common share at a price of $1.10 for a period of eighteen months from closing. Finders' fees totaling $421,980 were paid.\nThe proceeds of the private placement will be used for exploration and development of the Company's New Mexico uranium properties and for general working capital purposes.\n\nAbout Tigris Uranium Corp.\n\nTigris Uranium Corp. has assembled an elite staff and technical team with considerable experience in the uranium sector and is committed to providing shareholders with exceptional leverage to rising uranium prices through the acquisition of established resources. Tigris will achieve this through four value-enhancing strategies: acquisition of uranium projects with established resources in stable mining jurisdictions such as the United States and Canada; conducting geological and engineering work likely to expand resources, upgrade resources to reserves and improve recoverability; advancing existing resources into and through the perm...