Business
Telson Closes First Tranche of Non-Brokered Private Placement
(via TheNewswire) Vancouver, British Columbia - TheNewswire - February 14 , 20...
About this update from Luca Mining Corp
[{"type":"text","content":"Telson Closes First Tranche of Non-Brokered Private Placement(via TheNewswire)\n \n \nVancouver, British Columbia - TheNewswire - February 14, 2020 - Telson Mining Corporation (\"Telson\" or the \"Company\" (TSXV:TSN), (OTC:SOHFF), (Frankfurt-TSGN (formerly SQ82)) is pleased to announce that it has closed a first tranche of the non-brokered private placement (the \"Private Placement\") originally announced on December 27, 2019. This first tranche consisted of 19,458,442 units of the Company at a price of $0.10 per unit for gross proceeds of $1,945,844. Each unit is comprised of one common share and one half of one whole transferable share purchase warrant. Each whole share purchase warrant entitles the holder thereof to purchase one additional common share of the Company at $0.25 within twenty-four (24) months from closing. All securities issued under the Private Placement are subject to a hold period expiring four months and one day after the closing date. Total issued and outstanding shares in the Company after completion of the first tranche of the Private Placement is 159,037,594. \n\n\n \nThis press release is also being disseminated as required by National Instrument 62-103 The Early Warning System and Related Take Over Bids and Insider Reporting Issues in connection with the filing of an early warning report (the \"Early Warning Report\") regarding the acquisition of securities of the Company by Estrategica Corporativa en Finanzas, S.A.P.I. de C.V. (\"Estrategica\") of Mexico. \n\n\n \nEstrategica acquired 5,853,796 shares of the Company at a price of $0.10 per Share and Warrants to acquire an additional 2,926,898 shares at a price of $0.25 per Warrant under the Private Placement. \n\n\n \nPrior to the Private Placement, Estrategica beneficially owned 29,549,454 Common Shares. Accordingly, Estrategica beneficially owns an aggregate of 35,403,250 Common Shares of the Company, representing approximately 22.26% of the 159,037,594 issued and outstanding Shares of the Company on an undiluted basis and approximately 23.66% (38,330,148 Common Shares) of the Company, on a partially diluted basis, assuming exercise of the Warrants held by Estrategica.\n\n\n \nAs previously reported in the Early Warning Report filed by Estrategica dated October 11, 2018, Roberto Guzman Garcia (\"Guzman\") a director of Telson, is the controlling mi...