TAC.v Tasca closes $227,500 first tranche of financing
2016-08-24 19:22 ET - News Release
Mr. Craig Naughty reports
TASCA CLOSES FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT FINANCING
Tasca Resources Ltd. has received TSX Venture Exchange approval to close the first tranche of its financing announced on May 31, 2016, and amended on June 9, 2016, and June 24, 2016.
The company will issue 3,033,333 non-flow-through (NFT) units at 7.5 cents per NFT unit for gross proceeds of $227,500.
Each NFT unit comprises one common share and one-half share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at an exercise price of 10 cents per share for two years from closing.
In respect to this first tranche, the company will pay an aggregate cash finder's fee to four finders totalling $22,150, and issue 65,000 common shares and 65,000 warrants (agent's options) to one agent. Each agent's option is exercisable at 10 cents per share for two years.
The NFT units will become free trading on Dec. 25, 2016, pursuant to a four-month statutory hold period expiring on Dec. 24, 2016.
The gross proceeds of the private placement will be used by the company to complete the required exploration expenditures with respect to the Fourbay Lake/Cobb Bay properties and for general working capital expenses.
The company expects to close the flow-through (FT) unit portion of this financing shortly.
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