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Provider: Reuters Investment Profile

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Taipan Resources Inc Announces Closing of Private Placement

Wednesday, 13 Feb 2013 07:53pm EST 

Taipan Resources Inc announced that the Company has completed a non-brokered private placement for gross proceeds of approximately $3,107,450 through the issuance of 8,878,425 units at a price of $0.35 per Unit. Each Unit consists of one common share and one warrant exercisable into an additional common share at a price of $0.50 for a period of five years. Management of Taipan subscribed for approximately 20% of the Private Placement. The Company intends to use the net proceeds of the Private Placement for exploration expenditures and working capital requirements. The Company may pay finders' fees on all or a portion of the Private Placement. All securities issued pursuant to the Private Placement are subject to a statutory hold period expiring on June 14, 2013. 

Company Quote

0.0050 +2.86%
21 Nov 2014