Business
Tagish closes first tranche of previously announced flow-through private placement of units
Tagish closes first tranche of previously announced flow-through private placement of units.
About this update from Troilus Mining Corp
[{"type":"text","content":"\n\n\n\n(TSX.V:TLG)\n\n\nRICHMOND, BC, Oct. 24 /CNW Telbec/ - Tagish Lake Gold Corp. (TSX-V: TLG)\nannounces that it has closed the first of two tranches of its previously\nannounced non-brokered private placement of flow-through share units at a\nsubscription price of C$0.17 per unit for gross proceeds of C$479,400. Each\nunit consists of one flow-through common share in the capital of the Company\nand one-half of one non-transferable common share purchase warrant, each whole\nwarrant entitling the holder to acquire one additional non flow-through common\nshare at a price of C$0.25 per share for eighteen (18) months from the date of\nissuance.\n\n\nThe funds will be used for the 5,000 m diamond drilling program to\nincrease the resource in the Rainbow Two and Berg zones, by testing the\nextensions of these zones above the 1400 m elevation and below the 1200 m\nelevation.\n\n\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$29,780 and grant finders' warrants on terms similar to the warrants included\nin the units to purchase 175,200 common shares.\n\n\nAll securities issued will be subject to a hold period expiring on\nFebruary 19, 2008 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.\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 km2 Skukum Mineral District located 80 km by\nroad south of Whitehorse. The Skukum Mineral District hosts the Skukum Creek\ngold-silver deposit and the Goddell Gully gold deposit, and has a currently\ndefined measured plus indicated resource of 1,420,000 tonnes grading 6.8 g/t\nAu and 131 g/t Ag (MineTech International Ltd., 2007 Update), and the Mt.\nSkukum gold deposit.\n\n\nShould you wish to receive Company news via email, please email\[email protected] and specify "TLG News" in the subject line.\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 state...