By Laura Lutz
Washington, Feb. 8 - Tyner Resources Ltd. negotiated a private placement of units for C$3.375 million.
The company agreed to sell 7.5 million units of one share and one half-share warrant at C$0.45 per unit. Each whole warrant will be exercisable at C$0.60 for one year.
The placement will be non-brokered.
Proceeds will be used to fund a new joint venture with Basa Resources, Inc. to drill two wells to explore land adjacent to the McIntosh well drilled by PetroGlobe Energy Ltd.
Tyner is an energy company based in Vancouver, B.C.
| Issuer: | Tyner Resources Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$3.375 million
|
| Units: | 7.5 million
|
| Price: | C$0.45
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.60
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 8
|
| Stock symbol: | TSX Venture: TIP
|
| Stock price: | C$0.56 at close Feb. 8
|
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