TAOL (.033) Tao Minerals Secures Additional Financing
Wednesday, June 11 2008 11:42 AM, EST
Market Wire "US Press Releases "
MEDELLIN, COLOMBIA -- (MARKET WIRE) -- 06/11/08 -- Tao Minerals, Ltd. (OTCBB: TAOL) is pleased to announce, in addition to its newly completed US$1,000,000 financing first announced on April 10, 2008 , that Tao has secured an additional financing in the amount of US$500,000 . The US$500,000 financing will be provided by a different investor than the US$1,000,000 financing. An initial tranche of US$150,000 has been received by Tao with respect to this new financing with the balance due to be received within thirty days. As previously disclosed, the initial tranche of $125,000 on the original US$1,000,000 financing was already received. The balance of US$875,000 under the original US$1,000,000 is due after the declaration of effectiveness of the registration statement to be filed with the Securities and Exchange Commission with respect to the original US$1,000,000 financing. The receipt of the initial tranche of both financings along with imminent arrival of the other infusions mark the first of a number of steps which will enable the company to quickly move forward to achieve its near and mid-term development goals.
About Tao Minerals, Ltd.
Tao Minerals (OTCBB: TAOL) is a junior exploration company based in Medellin, Colombia . Tao is successfully positioning itself as a leader in gold exploration in Colombia through key acquisitions of properties with exceptional potential for low extraction cost deposits. Tao's focus in calendar 2008 is on the upgrading and initiation of operations of its El Colmillo mine, which offers the potential to quickly provide a strong revenue stream, able to fund exploration activities on the estimated high grade gold deposit of its Golondrina property and finance additional acquisitions, while greatly enhancing shareholder value.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the 2007 fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time to time with the Securities and Exchange Commission .
Contacts:
Shawn Van Damme
Tao Minerals
Investor Relations
1-877-512-1120
Svd@Taomining.com
www.Taomining.com
or
Mark Cohen
CEO
Cohen Consulting
718-428-7651
e-mail: pnaclgrup@aol.com
www.cohenconsultingIR.com
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