By Sheri Kasprzak
New York, March 7 - Tamerlane Ventures Inc. said it upsized its previously announced non-brokered private placement to C$4,999,750 from C$3.5 million.
The company now plans to sell 14,285,000 units at C$0.35 each.
The units consist of one share and one half-share warrant. Each whole warrant allow for the purchase of another share at C$0.45 for 18 months.
Proceeds will be used for a feasibility study on the company's Pine Point lead-zinc project in the Northwest Territories and for general corporate purposes.
Based in Blaine, Wash., Tamerlane is a mineral exploration company.
| Issuer: | Tamerlane Ventures Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$4,999,750
|
| Units: | 14,285,000
|
| Price: | C$0.35
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| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.45
|
| Placement agent: | Non-brokered
|
| Pricing date: | March 3
|
| Upsized: | March 7
|
| Stock symbol: | TSX Venture: TAM
|
| Stock price: | C$0.40 at close March 3
|
| Stock price: | C$0.45 at close March 7
|
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