Tasca Resources Ltd. Closes First Tranche of Non-Brokered Private Placement Financing
24.08.2016 | FSCwire
Vancouver - Tasca Resources Ltd. ("Tasca" or the "Company") (TSX Venture symbol: TAC) is pleased to announce that it has received TSX Venture Exchange (“Exchange”) approval to close the first tranche of its financing announced on May 31, 2016 and amended on June 9, 2016 and June 24, 2016.The Company will issue 3,033,333 Non Flow Through Units at $0.075 per NFT Unit for gross proceeds of $227,500.
Each NFT Unit is comprised of one common share and one half share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at an exercise price of $0.10 per share for two years from closing.
In respect to this first tranche, the Company will pay an aggregate cash finder’s fee to four finders totalling $22,150, and issue 65,000 common shares and 65,000 warrants (agent’s options) to one agent. Each agent’s option is exercisable at $0.10 per share for two years.
The NFT Units will become free trading on December 25, 2016 pursuant to a four month statutory hold period expiring on December 24, 2016.
The gross proceeds of the Private Placement will be used by the Company to complete the required exploration expenditures with respect to the Fourbay Lake/Cobb Bay Properties and for general working capital expenses.
The Company expects to close the FlowThrough Unit portion of this financing shortly.
For further info on the Company please visit www.tascaresources.com or email tascaresources@gmail.com. Telephone: 416-722-5122
On Behalf of the Board of Tasca Resources Ltd.,
Craig Naughty
President & CEO
“Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”