Tournigan Closes Private Placement
Tournigan Energy Ltd. (TVC: TSX-V; TGP: Frankfurt) is pleased to
announce that it has completed a non-brokered private placement (the 'Private
Placement') of 30,000,000 units ('Units'), at a
subscription price of $0.10 per Unit, for gross proceeds of $3,000,000.
Each Unit is comprised of one common share (a 'Share') and
one-half of one common share purchase warrant (a 'Warrant').
Each Warrant entitles the holder to purchase one additional Share of the
Company up to and including July 14, 2012 at an exercise price of $0.20.
The company paid $102,900 and issued 1,029,000 Warrants as finders′ fees
in connection with the Private Placement.
The securities are subject to a hold period expiring on November 15,
2010 in accordance with the policies of the TSX Venture Exchange and
applicable Canadian securities laws.
Tournigan will use the net proceeds of the Private Placement to advance
its high-grade Kuriskova uranium project in Slovakia and for general
working capital purposes.
About Tournigan
Tournigan is a uranium exploration and development company that has
built a portfolio of highly prospective assets in Slovakia, a member of
the European Union since 2004. Slovakia is economically and politically
stable, has excellent infrastructure and currently has four nuclear
reactors generating half of its electricity with two more under
construction. Tournigan is committed to safe and sustainable exploration
and mine development in Slovakia. In addition to Kuriskova, Tournigan
has several other exploration targets along the Slovakian uranium belt
which are showing positive exploration results.
TOURNIGAN ENERGY LTD. |
'Dusty Nicol? |
Dorian L. (Dusty) Nicol, President and 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.
For further information please contact: Knox Henderson, Tournigan Energy
Investor Relations, at (604) 683-8320, or visit www.tournigan.com.
Tournigan Energy
Knox Henderson, 604-683-8320
Investor
Relations