Business
Telson Closes Non-Brokered Private Placement and Provides Update on Filing 2019 Audited and Q1 2020 Financial Statements
(via TheNewswire) Vancouver, British Columbia - TheNewswire - July ...
About this update from Luca Mining Corp
[{"type":"text","content":"Telson Closes Non-Brokered Private Placement and Provides Update on Filing 2019 Audited and Q1 2020 Financial Statements(via TheNewswire)\n \n \nVancouver, British Columbia - TheNewswire - July 15, 2020\n\n\n \nTelson Mining Corporation (\"Telson\" or the \"Company\" (TSX Venture Exchange-TSN, OTC Pink-SOHFF, Frankfurt-TSGN (formerly SQ82)) (TSXV:TSN) (OTC:SOHFF) is pleased to announce that it has closed the non-brokered private placement (the \"Private Placement\") as announced July 02, 2020. The fully subscribed Private Placement has closed with the Company issuing 13,996,145 units (the \"Units\") at a price of $0.10 per Unit for gross proceeds of $1,399,615. 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 $0.15 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 on November 10, 2020. Total issued and outstanding shares in the Company after completion of the Private Placement is 175,360,968. \n\n\n \nTelson also announces that it will not be filing its audited financial statements, management discussion and analysis and related certifications in respect of its financial year ended December 31, 2019 today, as it had hoped to, as disclosed in previous news releases. COVID-19 related issues within Mexico have continued to hamper access to the Company's mine sites and have slowed the flow of information required to The Company has sought and received an extension to its management cease trade order, in respect of the December 31, 2019 annual financials and also in respect of its Q1 financials for the period ended March 31, 2020. At this time, Telson expects to file the required annual and Q1 financials and MD&A by July 30, 2020. The Company intends to follow the provisions of the alternative information guidelines set out in NP 12-203, including the issuance of biweekly default status reports in the form of news releases, for as long as the Company remains in default. The Company confirms, as of the date of this news release, that there has been no material change in the information contained in the default announcement, and t...