TRGD - more news and 10-K out. This one will probably be leaving pinkie market soon. The market reacting favorably. Keep in mind that the PR states that the financing is .50 a share for non-public subsidiary NOT the public parent entity shares. Also states that they are planning on taking the subsidiary public.
Tara Minerals Corp. Closes $2.5 Million Private Placement Financing Thursday March 22, 12:15 pm ET
CHICAGO, IL--(MARKET WIRE)--Mar 22, 2007 -- Tara Gold Resources Corp. (Other OTC:TRGD.PK - News) (Frankfurt:T8N.F - News) is pleased to announce that it has closed a Private Placement for Tara Minerals Corp. Tara Minerals raised net proceeds of $2,519,600 through private investors, by selling 5,039,200 shares priced at $0.50 per share. No finders' fees were paid. The funds will be used to advance current projects and seek additional prospects.
With the closing of this financing, Tara Minerals Corp. has 36,539,200 shares issued and outstanding. Tara Gold owns 30,000,000 shares of Tara Minerals for an 82.1% interest.
Tara Minerals currently has two high grade, Zinc, Lead and Silver properties in Mexico. The Pilar De Mocoribo Groupings is comprised of 1,548 hectares and lies within a larger area of hydrothermal alteration that hosts numerous base and precious metal occurrences along the western part of the Northern Sierra Madre Gold Belt. The Don Ramon and Lourdes Groupings is comprised of 309 hectares and lies within the same general area as the Pilar De Mocoribo Groupings. (See news releases dated October 16, 2006 and November 16, 2006).
Mr. Francis Biscan Jr., President of Tara Gold Resources, stated, "Our focus, on behalf of our shareholders, is to leverage these funds, along with our relationships and experience, to systematically build a portfolio worthy of market premiums. We intend to take Tara Minerals public during 2007."
About Tara Minerals Corp.
The principal business of Tara Minerals is the acquisition, exploration and development of high-quality non-precious metals and mineral projects with potential for economic commercial value. Tara Minerals is currently focused on acquiring and developing properties in the natural resource belt of the Sierra Madre Occidental and other prolific areas in the states of Chihuahua, Sonora, and Sinaloa, Mexico. For more information, please visit the company's web site at: http://www.TaraMinerals.com.
About Tara Gold Resources Corp.
Tara Gold Resources Corp. is a growth-oriented precious metals exploration and development company with existing production plants. It is management's objective to become a significant gold and precious metals producer by re-initiating and increasing production levels at La Currita, Lluvia de Oro and Picacho, and developing the San Miguel, La Millionaria, Pilar De Mocoribo, Don Ramon and Lourdes Groupings and Las Minitas projects in Mexico. We continue to acquire other advanced-stage projects and/or producing mines in one of the most prolific precious metal districts in the world. For more information, please visit the Company's web site at: http://www.TaraGoldResources.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
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