Business
Telson Closes Non-Brokered Private Placement for Gross Proceeds of $10.08 Million
(TheNewswire) Vancouver, British Columbia - TheNewswire -...
About this update from Luca Mining Corp
[{"type":"text","content":"Telson Closes Non-Brokered Private Placement for Gross Proceeds of $10.08 Million\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, British Columbia -\n \n \n TheNewswire -\n \n \n March 30, 2021 -\n \n \n Telson Mining Corporation (“\n \n \n Telson\n \n \n ” or the\n“\n \n \n Company\n \n \n ” (TSXV:TSN\n \n \n ) (\n \n \n OTC:SOHFF\n \n \n ) (\n \n \n Frankfurt:TSGN) is pleased to announce that it has closed the\nnon\n \n \n ‐\n \n \n brokered private\nplacement (the “\n \n \n Private\nPlacement\n \n \n ”) originally announced on February\n23, 2021.\n \n \n \n \n \"\n \n \n We are\nvery please to deliver this exciting news to Telson shareholders and\ninvestors\n \n \n .\" States Ralph Shearing,\nPresident & CEO. \"\n \n \n Closing this private placement as the first tranche of the Accendo\nSyndicate recently announced US $25 million funding package now allows\nus to immediately reinitiate construction at Tahuehueto where Telson\nis targeting initial gold production near the end of 2021.  We thank\nour funding partners, Accendo Banco, Endeavour Financial and Empress\nRoyalty as well our concentrate off-taker and lenders for their\ncooperation and assistance in our efforts to close this private\nplacement\n \n \n .”\n \n \n \n \n The Company issued 50,400,000 units (each, a\n“\n \n \n Unit\n \n \n ”) of the Company at a price of $0.20 per Unit for\naggregate gross proceeds of $10,080,000. Each Unit is comprised of one\ncommon share (a “\n \n \n Common\nShare\n \n \n ”) and one-half of one common share\npurchase warrant (each whole such warrant, a “\n \n \n Warrant\n \n \n ”).  Each\nWarrant entitles the holder thereof to purchase one additional Common\nShare of the Company at a price of $0.30 per Common Share within 24\nmonths from March 29, 2021 (the “\n \n \n Closing Date\n \n \n ”).  All securities issued under the Private Placement\nare subject to a hold period expiring four months and one day after\nthe Closing Date.  Total issued and outstanding Common Shares of the\nCompany after completion of the Private Placement is\n \n \n 236,069,954\n \n \n .\n \n \n \n \n In accordance with applicable securities laws and the\npolicies of th...