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Provider: Reuters Investment Profile
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Taipan Resources Inc Announces $3,000,000 Private Placement


Thursday, 31 Jan 2013 08:24pm EST 

Taipan Resources Inc announced that the Company is proceeding with a non-brokered private placement to raise up to $3,000,000 through the issuance of up to 8,571,428 units (Units) at a price of $0.35 per Unit. Each Unit will consist of one common share of the Company and one transferable share purchase warrant, with each warrant entitling the holder to purchase an additional common share of the Company for a period of five years at an exercise price of $0.50. All securities issued pursuant to the private placement will be subject to a statutory hold period of four months and one day. The Company intends to use the proceeds from the private placement for exploration expenditures and for general working capital purposes. 

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