Texas Mineral Resources Corp (TMRC)

[willlbone]

Most recent 8K ...

On December 7, 2015, the Company closed a private placement (the “Offering”) of the Company’s units (the “Units”) with 12 accredited investors (each an “Subscriber” and collectively, the “Subscribers”) for aggregate gross proceeds to the Company of approximately $659,500. Each Unit issued in the Offering consists of: (i) one share of common stock of the Company, par value $0.01 per share (each a “Common Share”) and (ii) two common stock purchase warrants (each a “Warrant”). Each Warrant entitles the holder thereof to purchase one Common Share (each a “Warrant Share”) at a price of $0.35 per Warrant Share until December 7, 2020.

In connection with the Offering, we entered into Subscription Agreements (collectively, the “Subscription Agreements”) by and between us and each Subscriber in which we issued to the Subscribers an aggregate of 3,297,500 Units at a per Unit purchase price of $0.20. Pursuant to the Subscription Agreement, we agreed to use our reasonable commercial efforts to prepare and file with the United States Securities and Exchange Commission within sixty (60) calendar days from the closing of the Offering a registration statement to cover the resale, from time to time, of the Common Shares and the Warrant Shares issuable upon the exercise of the Warrants.