Business
Tagish undertakes $1.7 million non-brokered private placement of flow-through units
Tagish undertakes $1.7 million non-brokered private placement of flow-through units.
About this update from Troilus Mining Corp
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE\n\n\nUNITED STATES/\n\n\n(TSX.V: TLG)\n\n\nRICHMOND, BC, Sept. 25 /CNW Telbec/ - Tagish Lake Gold Corp. (TSX-V: TLG)\n("Tagish" or "the Company") announces that it is undertaking a non-brokered\n$1.7 million private placement offering of flow-through share units (the\n"Units") at a subscription price of C$0.17 per Unit. Each Unit consists of one\n"flow-through" common share in the capital of the Company and one-half of one\nnon-transferable common share purchase warrant, each whole warrant entitling\nthe holder to acquire one additional common share at a price of C$0.25 per\nshare for eighteen (18) months from the date of issuance.\n\n\nThe funds will be used for a 5,000 m diamond drilling program to test the\nextensions of the Rainbow Two and Berg zones above the 1400 m elevation and\nbelow the 1200 m elevation. The anticipated proceeds of the flow-through\noffering will be used for eligible Canadian Exploration Expenses ("CEE") as\ndefined in subsection 66.1(6) of the Income Tax Act (Canada) on the Company's\nSkukum Creek gold-silver deposit.\n\n\nCompletion of this proposed private placement will be subject to the\nnegotiation, execution and delivery of definitive subscription agreements, TSX\nVenture Exchange acceptance of the proposed subscribers and documentation\nrelated to the offering. Any securities to be issued with will be subject to a\nhold period of four months from the closing date in accordance with the rules\nand policies of the TSX Venture Exchange and applicable Canadian securities\nlaws.\n\n\nIn connection with the flow-through offering the Company has agreed with\ncertain eligible registrants to pay a finders' fee in cash of 8% of the\nproceeds raised from participating subscribers introduced to the Company by\nsuch registrants and grant finders' warrants on terms similar to those\nincluded in the flow-through share units equal to 8% of the Units subscribed\nby such subscribers.\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 Mi...