Business
Tagish announces flow-through private placement
Tagish announces flow-through private placement.
About this update from Troilus Mining Corp
[{"type":"text","content":"\n\n\n\nRICHMOND, BC, Dec. 7 /CNW Telbec/ - Tagish Lake Gold Corp. (TSX-V: TLG)\n(\"Tagish\") announces that it is undertaking a flow-through private placement\nof a maximum of S2.5 million at a subscription price of C$0.26 per unit. Each\nunit consists of one common share in the capital of the Company and one-half\nof one non-transferable common share warrant. Each whole warrant entitles the\nholder to acquire one additional non flow-through common share at a price of\nC$0.32 per share for eighteen (18) months from the date of issuance.\n\n\nThese funds will be used for eligible Canadian Exploration Expenses\n(\"CEE\") as defined in subsection 66.1(6) of the Income Tax Act (Canada) on\nTagish's Skukum Creek property. As previously announced (See news release of\nDecember 5, 2006), the Company is embarking on the next phase of work leading\nto feasibility at Skukum Creek.\n\n\nIn connection with the financing, the Company will pay eligible\nregistrants a finders' fees of 8% in cash or shares, and grant finders'\nwarrants equal to 8% of the Units subscribed on terms similar to those\ndescribed above.\n\n\nAll securities issued will be subject to a four month hold period in\naccordance with the rules and policies of the TSX Venture Exchange and\napplicable Canadian securities laws.\n\n\nAbout Tagish Lake Gold Corp.\n\n\nTagish Lake Gold Corp. explores for and develops high grade gold-silver\nmineral deposits in the Yukon Territory of Canada. The Company is currently\nfocused on its wholly owned, 178 km(2) Skukum Mineral District located 80 km\nby road south of Whitehorse. The Skukum Mineral District hosts the Skukum\nCreek gold-silver deposit and the Goddell Gully gold deposit, with a currently\ndefined measured plus indicated resource of 1,120,000 tonnes grading 8.0 g/t\nAu and 153.1 g/t Ag (MineTech International Ltd., June 2003 available on\nSedar), and the Mt. Skukum gold deposit.\n\n\nTHE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY\n\n\nOR ACCURACY OF THIS NEWS RELEASE.\n\n\nThis news release includes certain forward looking statements in respect\nto various issues including upcoming events. These forward looking statements\nare based upon current expectations which involve risks and uncertainties that\ncould cause actual outcomes and results to differ materially. Mineral\nexploration is subject to a ...