Tawsho Mining Inc. Announces Completion of Financing
12.05.2015 | Marketwire
TORONTO, May 12, 2015 - Tawsho Mining Inc. (TSX VENTURE:TAW) ("Tawsho" or the "Corporation") is pleased to announce that it has completed, effective May 11, a first tranche of its non-brokered private placement offering to arm's-length and non-arm's-length parties (the "Offering"), as announced in a previous news release dated April 28, 2015. The Corporation issued 3,200,000 units ("Units") at a price of $0.025 per Unit for total gross proceeds of $80,000. Insiders of the Corporation subscribed for all of this first tranche of the Offering. No finder's fees were paid by the Corporation in respect of the Offering.Each Unit consists of one common share and one common share purchase warrant. Each common share purchase warrant entitles the holder to purchase one common share of Tawsho at a price of $0.05 per share until May 11, 2017. All securities issued pursuant to the Offering are subject to a hold period of four months and one day which expires September 12, 2015, in accordance with applicable securities regulatory and TSX Venture Exchange requirements.
Tawsho still anticipates at least an additional $20,000 gross proceeds for the Offering. Final acceptance of the Offering by the TSX Venture Exchange is subject to, among other things, the Corporation closing on a total of $100,000 gross proceeds.
ABOUT TAWSHO MINING INC.
Tawsho is a mining exploration company focused on the acquisition, exploration and development of gold resources and advanced stage gold exploration properties. The Corporation is presently developing its Chevrier Gold Property (comprised of 557 claims, covering an area of 9542 hectares, or 95.4 sq. km) located in the Chibougamau region of Quebec. Tawsho currently has approximately 34.7 million common shares issued and outstanding.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as a term that is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Contact
Tawsho Mining Inc.
Mr. Stephen Balch, President & CEO
(905) 407-9586
sbalch@tawshomining.com