Business
Taranis Resources Inc. announces Closing of a Flow-Through Private Placement with the MineralFields Group
LAKEWOOD, CO, May 8 /CNW/ - Taranis Resources Inc. ("Taranis") (TSX.V: TRO) is pleased to announc...
About this update from Taranis Resources Inc.
[{"type":"text","content":"\n\n\n\nLAKEWOOD, CO, May 8 /CNW/ - Taranis Resources Inc. ("Taranis") (TSX.V:\nTRO) is pleased to announce the closing of a non-brokered Private Placement of\n$750,000 through the sale of 1,630,432 flow-through units ("FT Units") at\n$0.46 each to the MineralFields Group, as originally announced on April 25,\n2008. Each unit consists of one flow-through common share and one-half (1/2)\nof a share purchase warrant, with each whole warrant to entitle the holder to\npurchase one common share at a price of $0.75 until May 6, 2009 and thereafter\nat a price of $1.00 until May 6, 2010. The proceeds from this private\nplacement will be used to fund exploration at Taranis' Thor Project in\nsoutheastern British Columbia.\n\n\nIn connection with the closing disclosed above, Taranis has issued to\nLimited Market Dealer Inc. finder's options entitling it to purchase up to\n114,130 units at a price of $0.46 per unit until May 6, 2010, with each unit\nto consist of one common share and one-half (1/2) of a share purchase warrant,\nwith each whole warrant to entitle it to purchase one common share at a price\nof $0.75 until May 6, 2009, and thereafter at a price of $1.00 until May 6,\n2010.\n\n\nAll of the securities issued in connection with the closing of this\nprivate placement, including the securities issued in payment of the finder's\nfee, are subject to a hold period in Canada until September 7, 2008.\n\n\nJohn Gardiner, President and CEO of Taranis, states "We are very pleased\nto be commencing our relationship with the MineralFields Group. This is an\nimportant milestone in the growth of Taranis, and we look forward to working\nwith the MineralFields Group as we develop our holdings at our Thor Project."\n\n\nAbout MineralFields, Pathway and First Canadian Securities(R)\n\n\nMineralFields Group (a division of Pathway Asset Management) is a\nToronto- and Vancouver-based mining fund with significant assets under\nadministration that offers its tax-advantaged super flow-through limited\npartnerships to investors throughout Canada during most of the calendar year,\nas well as hard-dollar resource limited partnerships to investors throughout\nthe world. Pathway Asset Management also specializes in the manufacturing and\ndistribution of structured products and mutual funds. Information about\nMineralFields Grou...