Business
Tumi Announces $4 million Private Placement
Tumi Announces $4 million Private Placement.
About this update from Kingsmen Resources Limited
[{"type":"text","content":"\n\n\n\n\nTSXv - TM\nFrankfurt - TUY\nOTCBB - TUMIF\n\nVANCOUVER, April 6 /CNW/ - Tumi Resources Limited (the \"Company\") \n(TSXv-TM; OTCBB - TUMIF; Frankfurt - TUY). Mr. David Henstridge is pleased to\nannounce a private placement financing of up to 6,600,000 units at $0.62 per\nunit with each unit consisting of a share and a half warrant. Each whole\nwarrant will be exercisable at $0.80 for a period of two years from the date\nof completion of the financing and subject to forced conversion which comes\ninto effect once the shares trade on a weighted average price of $1.25 per\nshare for a period of 20 consecutive trading days.\nBolder Investments Partners, Ltd. (\"Bolder\"), have been retained to place\n3,500,000 units. Bolder will be paid a cash commission of 8% of gross proceeds\nraised and agent warrants equal to 10% of the number of units sold by Bolder.\nThe Company will also pay Bolder a work fee of $5,000 and reimburse them for\nreasonable expenses incurred in connection with the financing.\nA finder's fee will be paid on a portion of the balance of the placement.\nThe finder's fee is 8% cash and 10% warrants to registrants and 8% cash to \nnon-registrants.\nThe net proceeds from the financing will be used to fund exploration on\nthe Company's mineral properties in Mexico and Sweden and for general working\ncapital.\n\nOn behalf of the Board,\n\n\"David Henstridge\"\n---------------------------------\nDavid Henstridge, President & CEO\n\nForward Looking Statements\n--------------------------\nThis Company Press Release contains certain \"forward-looking\" statements\nand information relating to the Company that are based on the beliefs of the\nCompany's management as well as assumptions made by and information currently\navailable to the Company's management. Such statements reflect the current\nrisks, uncertainties and assumptions related to certain factors including,\nwithout limitations, competitive factors, general economic conditions,\ncustomer relations, relationships with vendors and strategic partners, the\ninterest rate environment, governmental regulation and supervision,\nseasonality, technological change, changes in industry practices, and one-time\nevents. Should any one or more of these risks or uncertainties materialize, or\nshould any underlying assumptions prove incorrect, actual results may vary\n...