By Sheri Kasprzak
New York, March 6 - Tennant Creek Gold Ltd. said it settled an A$1 million private placement.
The company issued 4 million shares at A$0.25 each to a group of institutional investors.
The investors will have the right to participate in the company's 2007 pro-rata option offering of 27.45 million options at A$0.01 each.
Proceeds from both the placement and the option offering will be used for the development of the company's Manbarrum lead-zinc-silver project.
Based in West Perth, Western Australia, Tennant Creek is a mineral exploration company.
| Issuer: | Tennant Creek Gold Ltd.
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| Issue: | Stock
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| Amount: | A$1 million
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| Shares: | 4 million
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| Price: | A$0.25
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| Warrants: | No
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| Settlement date: | March 6
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| Stock symbol: | Australia: TNG
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| Stock price: | A$0.25 at close March 6
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