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Provider: Reuters Investment Profile
$20.00

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Tesoro Minerals Corp closes second and final tranche of private placement


Friday, 15 Aug 2014 05:16pm EDT 

Tesoro Minerals Corp:Closes second and final tranche of a non-brokered private placement previously announced on July 8.Company closes Second Tranche of Offering on Aug. 15, by issuing 700,000 units at a price of $0.10 per Unit for gross proceeds of $70,000.Each Unit comprised of one common share (Common Share) and one Common Share purchase warrant (Warrants).Each Warrant entitles holder to purchase one additional Common Share at price of $0.20 per Common Share for first year from date of issue, and at additional $0.05 per Common Share for each subsequent year until expiry of Warrants five years after date of issue.Pursuant to Offering, a total of 5,045,000 Units was subscribed for at a price of $0.10 per Unit which included an oversubscription of 45,000 Units and resulted in gross proceeds of $504,500.Net proceeds from Offering will be used for further evaluation of company's gold exploration projects in Colombia and for general corporate purposes. 

Company Quote

0.035
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20 May 2015