Business
Tagish closes third tranche of previously announced flow-through private placement of units
Tagish closes third 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, Jan. 2 /CNW Telbec/ - Tagish Lake Gold Corp. announces that\nit closed the third tranche of its previously announced non-brokered private\nplacement of flow-through share units at a subscription price of C$0.26 per\nunit for gross proceeds of C$797,138 on December 29, 2006. Each unit consists\nof one flow-through common share in the capital of the Company and one-half of\none non-transferable common share purchase warrant, each whole warrant\nentitling the holder to acquire one additional non flow-through common share\nat a price of C$0.32 per share for eighteen (18) months from the date of\nissuance.\n\n\nIn connection with the closing of these offerings, the Company has agreed\nwith certain eligible registrants to pay a finders' fee in cash of $62,731 and\ngrant finders' warrants on terms similar to the warrants included in the units\nto purchase 241,286 common shares.\n\n\nThese flow-through funds will be used for those exploration expenditures\non the high-grade Skukum Creek gold-silver mineral deposit that will\nconstitute Canadian Exploration Expenses (as defined in the Income Tax Act).\n\n\nAll securities issued will be subject to a hold period expiring on April\n30, 2007 in accordance with the rules and policies of the TSX Venture Exchange\nand applicable Canadian securities laws and such other further restrictions as\nmay 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 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\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 t...