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Tres-Or Announces $1 Million Private Placement for Drilling and Modern Microdiamond Testing Programs for its Guigues Diamond Exploration Project in Québec
Tres-Or Announces $1 Million Private Placement for Drilling and Modern Microdiamond Testin...
About this update from Tres-or Resources Ltd.
[{"type":"text","content":"\n\n\n\nTres-Or Announces $1 Million Private Placement for Drilling and Modern Microdiamond Testing Programs for its Guigues Diamond Exploration Project in Québec\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, May 28, 2019\n\n\n\n/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n VANCOUVER, May 28, 2019 /CNW/ - Tres-Or Resources Ltd. (\"Tres-Or\" or the \"Company\") (TSXV: TRS, OTCPK: TRSFF) is pleased to announce a non-brokered private placement for aggregate gross proceeds of up to $1,000,000 through the sale of Common Share Units (as defined herein) and Flow-Through Units (as defined herein) (the \"Private Placement\") to recapitalize the Company (the \"Restructuring\"). In conjunction with the Private Placement, the Company will seek to effect a 10:1 share consolidation (the \"Consolidation\"). The Company is also announcing its proposed work program to aggressively advance its Guigues diamond exploration project near Notre-Dame-du-Nord, Québec (the \"Guigues Project\"). All dollar amounts are in Canadian dollars.\nNon-brokered Private Placement for aggregate gross proceeds of up to $1,000,000 10:1 share consolidation in conjunction with the Private Placement $174,375 WMJ Loan has been converted from a demand loan to a term loan with an expiry date of March 1, 2021 Flow-through proceeds to be used to fund a proposed $679,000 2019 exploration program for the purpose of collecting core samples for modern microdiamond testing of the Guigues pipe, which has never been done The Company will also develop two other high-priority kimberlite pipe targets to collect core samples for microdiamond testing in 2019 Field work is expected to commence shortly after closing of the Private Placement, with drilling to commence near the end of the third quarter and microdiamond testing results expected to be reported near the end of the fourth quarter of 2019Commenting on today's news, Laura Lee Duffett, Tres-Or's President & CEO stated, \"As a result ...