Business
Tagish closes first tranche of previously announced flow-through and non-flow-through private placement of units
Tagish closes first tranche of previously announced flow-through and non-flow-through private placement of units.
About this update from Troilus Mining Corp
[{"type":"text","content":"\n\n\n\n\nRICHMOND, BC, Aug. 21 /CNW Telbec/ - Tagish Lake Gold Corp., Richmond,\nB.C. (TSX-V: TLG) (\"Tagish\" or \"the Company\") is pleased to announce that it\nhas closed the first tranche of its previously announced non-brokered private\nplacement of flow-through share units at a subscription price of C$0.18 per\nunit for gross proceeds of C$552,220. Tagish has also concurrently closed the\nfirst tranche of its previously announced non-brokered private placement of\nnon-flow-through share units at a subscription price of C$0.15 per unit for\ngross proceeds of C$67,500. Each unit consists of one flow-through or\nnon-flow-through common share in the capital of the Company, as the case may\nbe, and one-half of one non-transferable common share purchase warrant, each\nwhole warrant entitling the holder to acquire one additional non flow-through\ncommon share at a price of C$0.22 per share for eighteen (18) months from the\ndate of issuance.\nIn connection with the closing of the offerings today, the Company has\nagreed with certain eligible registrants to pay a finders' fee in cash of\n$7,800 and grant finders' warrants on terms similar to those included in the\nunits to purchase 48,000 common shares.\nAll securities issued will be subject to a hold period expiring on\nDecember 19, 2006 in accordance with the rules and policies of the TSX Venture\nExchange and applicable Canadian securities laws and such other further\nrestrictions as may apply under foreign securities laws.\nThe Company anticipates closing the next tranches of both the\nflow-through and non-flow-through offerings in the coming week.\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 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., 2003), and the Mt. Skukum\ngold deposit.\n\n>\n\nThis news release includes certain forward looking statements in respect\nto various issues including upcoming events. These forward looking state...