Tawsho Mining Inc.: Announces Completion of Financing
12.06.2015 | Marketwire
TORONTO, Jun 12, 2015 - Tawsho Mining Inc. (TSX VENTURE:TAW) ("Tawsho" or the "Corporation") is pleased to announce that it has completed its non-brokered private placement offering previously announced in news releases dated April 28, 2015, and May 12, 2015 (the "Offering"). The Corporation has issued a total of 4,000,000 units ("Units") in two tranches at a price of $0.025 per Unit for total gross proceeds of $100,000. Tawsho has 35,543,549 common shares issued and outstanding following completion of the Offering. The proceeds of the Offering will be used by the Corporation to pay current and ongoing estimated expenses as outlined in more detail in the April 28 news release.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 or June 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 respect of the first tranche closing and October 12, 2015, for the second tranche closing, in accordance with applicable securities regulatory and TSX Venture Exchange requirements.
Senior officers and directors of the Corporation subscribed for 90% of the Offering. No finder's fees were paid by the Corporation in respect of the Offering. Following completion of the Offering, Mr. Arandjelovic, director, holds, directly and indirectly, approximately 37.9% of the issued and outstanding common shares, Mr. Vance White, director, holds approximately 1.1% and Mr. Stephen Balch holds approximately 5.2% of the issued and outstanding common shares of the Corporation. Neither Tawsho, nor any related party to the Corporation, has knowledge of any material information concerning the Corporation or its securities that has not been generally disclosed.
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 35.5 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
Tel: (905) 407-9586
Email: sbalch@tawshomining.com