By Devika Patel
Knoxville, Tenn., Aug. 10 - Teslin River Resources Corp. said it has closed the first tranche of a C$1.1 million non-brokered private placement of units, raising C$47,500. The deal priced June 28.
The company is selling 12 million flow-through units of one flow-through common share and a half-share warrant at C$0.05 apiece. It also is selling 10 million units of one common share and a warrant at C$0.05 apiece.
It sold 250,000 units and 700,000 flow-through units in the first tranche.
Each whole warrant is exercisable at C$0.10 for one year. The strike price reflects a 66.67% premium to the June 25 closing share price of C$0.06.
Proceeds will be used for working capital.
The copper and gold explorer is based in Vancouver, B.C.
| Issuer: | Teslin River Resources Corp.
|
| Issue: | Flow-through units of one flow-through common share and a half-share warrant, units of one common share and a warrant
|
| Amount: | C$1.1 million
|
| Price: | C$0.05
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.10
|
| Agent: | Non-brokered
|
| Pricing date: | June 28
|
| Settlement date: | Aug. 10 (for C$47,500)
|
| Stock symbol: | TSX Venture: TLR
|
| Stock price: | C$0.06 at close June 25
|
| Market capitalization: | C$1.49 million
|
|
|
| Flow-through units
|
| Amount: | C$600,000
|
| Units: | 12 million
|
| Warrants: | One half-share warrant per unit
|
|
|
| Units
|
| Amount: | C$500,000
|
| Units: | 10 million
|
| Warrants: | One warrant per unit
|
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