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Tagish arranges C$500,000 private placement with, and amends proposed secured debt feasibility finance facility from, Macquarie Bank Ltd.
Tagish arranges C$500,000 private placement with, and amends proposed secured debt feasibility finance facility from, Macquarie Bank Ltd..
About this update from Troilus Mining Corp
[{"type":"text","content":"\n\n\n\n\n(TSX.V:TLG)\n\nRICHMOND, BC, Nov. 20 /CNW Telbec/ - Tagish Lake Gold Corp. (TSX-V: TLG)\n(\"the Company\") further to the Company's news release of September 13, 2006,\nTagish has arranged a non-brokered private placement with Macquarie Bank Ltd.\nfor 2,777,777 Tagish common shares at a subscription price of C$0.18 per share\nfor gross proceeds of C$500,000.\nIn connection with the anticipated proceeds raised from this private\nplacement, the previously announced secured debt feasibility finance facility\nfrom Macquarie for the completion of the feasibility study for the Company's\nSkukum Creek gold-silver project will be amended from C$2.0M to C$1.5M. The\nfeasibility finance facility share purchase warrants announced in the\nCompany's news release of September 13, 2006 will also be reduced from\n8 million warrants to 6 million warrants, subject to the acceptance of the\nTSX Venture Exchange, each warrant entitling the holder to acquire one common\nshare at a price of C$0.25 per share until September 28, 2008.\nCompletion of the proposed private placement will be subject to the\nnegotiation, execution and delivery of a definitive subscription agreement and\nsubscription funds together with TSX Venture Exchange acceptance of the\nproposed subscriber and documentation related to the offering.\nThe secured debt feasibility finance facility and related share purchase\nwarrants remain subject to the negotiation and execution of definitive\nagreements between the Company and Macquarie, acceptance of the documentation\nrelated to the financing and the common share purchase warrants by the TSX\nVenture Exchange, standard commercial conditions of lending and other\ntechnical and due diligence matters related to the Company and the Skukum\nCreek gold-silver project.\nAny securities issued with respect to the either private placement or\nsecured debt feasibility finance facility will be subject to a hold period of\nfour months and one day from the closing date in accordance with the rules and\npolicies of the TSX Venture Exchange and applicable Canadian securities laws\nand such other further restrictions as may apply under foreign securities\nlaws.\n\nAbout Tagish Lake Gold Corp.\n\nTagish Lake Gold Corp. explores for and develops high grade gold-silver\nmineral deposits in the Yukon Territory of Canada. The Company is currentl...