Non-brokered deal funds exploration, general working capital purposes
By Devika Patel
Knoxville, Tenn., June 14 - Teslin River Resources Corp. announced that it plans a C$2.5 million non-brokered private placement of units and stock.
The company will sell 40 million units of one common share and one half-share warrant at C$0.05 per unit and 8,333,333 flow-through common shares at C$0.06 each.
Each whole warrant is exercisable at C$0.10 for 18 months.
The strike price represents a 233.33% premium to C$0.03, the June 13 closing share price. The price per share is a 100% premium to that price.
Proceeds will be used for exploration and general working capital purposes.
The copper and gold explorer is based in Vancouver, B.C.
| Issuer: | Teslin River Resources Corp.
|
| Issue: | Units of one common share and one half-share warrant, flow-through common shares
|
| Amount: | C$2.5 million
|
| Agents: | Non-brokered
|
| Pricing date: | June 14
|
| Stock symbol: | TSX Venture: TLR
|
| Stock price: | C$0.03 at close June 13
|
| Market capitalization: | C$1.68 million
|
|
|
| Units
|
| Amount: | C$2 million
|
| Units: | 40 million
|
| Price: | C$0.05
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.10
|
|
|
| Shares
|
| Amount: | C$500,000
|
| Shares: | 8,333,333
|
| Price: | C$0.06
|
| Warrants: | No
|
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