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Provider: Reuters Investment Profile

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Tesoro Minerals Corp announces closing of second tranche of private placement

Monday, 13 Jan 2014 08:01am EST 

Tesoro Minerals Corp:Says it has closed the second tranche of a non-brokered private placement previously announced on Nov. 25.Says the Offering is expected to be comprised of up to 18,000,000 units at a price of 0.10 per Unit for gross proceeds of up to $1,800,000.Says each unit will comprise one common share and one common share purchase warrant.Says each Warrant will entitle the holder to purchase one additional Common Share at a price of $0.20 per Common Share for the first year from the date of issue and at an additional $0.05 per Common Share for each subsequent year until the expiry of the Warrants for 5 years after the date of issue.Says second tranche comprised 10,050,000 units.Says the company paid finder's fees for part of the Second Tranche of 7pct cash and 7pct broker warrants for a total of 577,500 Broker Warrants.Says common shares issued in the second tranche and the common shares to be issued pursuant to the exercise of the Warrants and Broker Warrants are all subject to a hold period expiring on May. 11. 

Company Quote

-0.02 -25.00%
6 Oct 2014