By Devika Patel
Knoxville, Tenn., July 2 - Tamerlane Ventures Inc. said it will take in C$2.25 million from a private placement of units.
The company will sell 3.75 million units at C$0.60 apiece. Each unit consists of one flow-through common share and one half-share warrant. Each whole warrant will be exercisable at C$0.80 for 18 months.
Proceeds will be used for additional surface drilling at the Pine Point Lead-Zinc project in Canada's Northwest Territories.
Tamerlane is a mining company based in Blaine, Wash.
| Issuer: | Tamerlane Ventures Inc.
|
| Issue: | Units of one flow-through common share and one half-share warrant
|
| Amount: | C$2.25 million
|
| Units: | 3.75 million
|
| Price: | C$0.60
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.80
|
| Pricing date: | July 2
|
| Stock symbol: | TSX Venture: TAM
|
| Stock price: | C$0.62 at close July 1
|
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