Telson Resources Inc. Initiates Activities for Restart of Mining Operations at Campo Morado and Closes Final Tranche of Private Placement

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[{"type":"text","content":"Telson Resources Inc. Initiates Activities for Restart of Mining Operations at Campo Morado and Closes Final Tranche of Private Placement(via TheNewswire)\n \n \nVancouver, British Columbia, July 20, 2017 - Telson Resources Inc. (\"Telson\" or the \"Company\") (TSX Venture - TSN.V) is pleased to announce that it has closed the final tranche of the private placement as announced in a press release dated June 14, 2017 and accordingly has issued 1,732,691 shares at 55 cents per share, and paid an additional US$700,000 to Nyrstar Mining which concludes all payments that were currently due under the agreement terms as summarized in the former referenced press release. \n\n \n \nThe funding was received from Estrategica Corporativa en Finanzas, a related party of the Company. The related party is a significant shareholder with a control position in the Company, for which the Company previously received shareholder consent in late 2015, in accordance with TSXV policy. The issuance of private placement securities to a 'non-arms' length party also constitutes a related-party transaction under Multilateral Instrument 61-101 (\"MI 61-101\"). Because the Company's shares trade only on the TSXV, the issuance of securities is exempt from the formal valuation requirements of Section 5.4 of MI 61-101 pursuant to Subsection 5.5(b) of MI 61-101 and fits within an exemption from the minority approval requirements of Section 5.6 of MI 61-101.\n\n \n \nWith the successful acquisition of 100% of the Campo Morado Mine, Telson has initiated the hiring and training of personnel whom are currently servicing all milling and mining equipment located at the mine site. Internal technical mine plan studies are advancing in preparation for restarting mining operations at Campo Morado. \n\n \n \nAlthough during Campo Morado's last full production year of 2014 only zinc and copper concentrates were recovered using room and pillar mining methods, Telson is planning to restart mining operations employing block caving mining methods to potentially reduce mining costs with an emphasis on maximizing recoveries of all economic metals including gold, silver, zinc, lead and copper. Additionally, Telson is planning to focus mining activities to zones outlined within the defined resources where higher precious metal content is available. \n\n \n \nTelson is also conductin...

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