Business
Tower Announces Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - May 25, 2020) - Tower Resources Ltd. (TSXV: TWR...
About this update from Tower Resources Ltd.
[{"type":"text","content":"Tower Announces Non-Brokered Private PlacementVancouver, British Columbia--(Newsfile Corp. - May 25, 2020) - Tower Resources Ltd. (TSXV: TWR) (\"Tower\" or the \"Company\") announces that it intends to complete a non-brokered private placement (the \"Offering\") of up to 8,333,333 units (each a \"Unit\") at $0.06 per Unit for gross proceeds of up to $500,000. The Company intends to use the net proceeds from the Offering to explore the mineralized zones from its recent reverse circulation and diamond drill program on its Nechako property, see the Company's press release of May 6, 2020, and for general working capital purposes.Each Unit will consist of one (1) common share in the capital of the Company (each a \"Common Share\") and one (1) transferable Common Share purchase warrant (each a \"Warrant\"). Each Warrant will entitle the holder to purchase one Common Share at price of $0.10 per Common Share until the date which is two (2) years from the date of issuance. The Company may pay certain finders a fee for introducing eligible participants to the Offering.All securities issued under the Offering, including securities issuable on exercise thereof, are subject to a hold period expiring four months and one day from the date of issuance. The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. About Tower ResourcesTower is a Canadian based mineral exploration company focused on the discovery and advancement of economic mineral projects in the Americas. The Company's key exploration assets are the Rabbit North copper-gold porphyry project located between the New Afton and Highland Valley Copper mines, the Nechako gold project near New Gold's Blackwater project and the More Creek gold project in the Golden Triangle area of Northern British Columbia.On behalf of the Board of DirectorsTower Resources Ltd.Joe Dhami, President and [email protected] AdvisoryThis news release may contain statements which constitute \"forward-looking information\", including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words \"may\", \"would\", \"could\", \"will\",...