By Devika Patel
Knoxville, Tenn., June 28 - Teslin River Resources Corp. said it has arranged a C$1.1 million non-brokered private placement of units.
The company will sell 12 million flow-through units of one flow-through common share and a half-share warrant at C$0.05 apiece. It also will sell 10 million units of one common share and a warrant at C$0.05 apiece.
Each whole warrant is exercisable at C$0.10 for one year.
Proceeds will be used for working capital.
The copper and gold explorer is based in Vancouver, B.C.
Issuer: | Teslin River Resources Corp.
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Issue: | Flow-through units of one flow-through common share and a half-share warrant, units of one common share and a warrant
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Amount: | C$1.1 million
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Price: | C$0.05
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Warrant expiration: | One year
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Warrant strike price: | C$0.10
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Agent: | Non-brokered
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Pricing date: | June 28
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Stock symbol: | TSX Venture: TLR
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Stock price: | C$0.06 at close June 25
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Market capitalization: | C$1.63 million
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Flow-through units
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Amount: | C$600,000
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Units: | 12 million
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Warrants: | One half-share warrant per unit
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Units
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Amount: | C$500,000
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Units: | 10 million
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Warrants: | One warrant per unit
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