Tawsho Mining Inc. Announces Flow-Through Private Placement
17.05.2012 | Marketwire
TORONTO, May 17, 2012 - Tawsho Mining Inc. (TSX VENTURE:TAW) ("Tawsho" or the "Corporation") announces a non-brokered flow-through private placement offering to arm's-length and non-arm's-length parties (the "Offering"). It is anticipated that insiders of the Corporation may subscribe for as much as 75% of the Offering. Tawsho intends to issue up to 3,200,000 flow-through units at a price of $0.25 per unit, to raise gross proceeds of up to $800,000. Each flow-through unit will consist of one flow-through common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one non-flow-through common share of Tawsho at a price of $0.30 per share for a period of two years from the date of issuance.The Offering is subject to the acceptance of the TSX Venture Exchange. The Corporation may pay finder's fees in cash and/or securities of the Corporation in respect of the Offering. All securities issued to purchasers and finders under the Offering will be subject to a four-month hold period from the date of issuance of the securities, pursuant to applicable securities legislation and the policies of the TSX Venture Exchange.
The proceeds of the Offering will be used for the exploration and development of Tawsho's properties in Newfoundland and Quebec, and for general working capital.
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 projects. The Corporation is presently developing its Chevrier project (comprised of 557 claims, covering an area of 9,542 hectares, or 95.4 sq. km) in the Chibougamau region of Quebec and its Whisker Valley project (comprised of 913 claims, covering an area of 21,875 hectares, or 218.8 sq. km) and the Cabot Property comprised of 100 claims, covering an area of 2,500 hectares, or 25 sq.km) in Baie Verte, Newfoundland.
Neither the TSX Venture Exchange nor its Regulations Services Provide (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Contact Information
Tawsho Mining Inc.
Mr. Gary Perkins, President and CEO
416 882-0020
garyperkins@tawshomining.com
www.tawshomining.com