TomaGold closes first tranche for $80,000
2014-05-05 12:24 ET - News ReleaseMr. David Grondin reports
TOMAGOLD RAISES $200,000 THROUGH THE EXERCISE OF WARRANTS AND THE FIRST CLOSING OF A PRIVATE PLACEMENTTwo institutional firms have exercised the warrants held by them in connection with the private placement announced on Dec. 31, 2013, thus enabling TomaGold Corp. to raise $120,000.
In addition, the company closed today on an initial $80,000 of a non-brokered private placement for a maximum of $700,000 mainly with Canadian and European institutional investors. The company expects the second closing to take place on or about May 9, 2014.
The private placement consisted of the issuance of units consisting of one common share and half a warrant, which resulted in the issuance of 500,000 common shares priced at 16 cents per share, and 250,000 warrants. Each warrant entitles its holder to purchase one common share of the company for 25 cents for a period of 24 months after closing. If TomaGold's shares trade at 35 cents or higher for 10 consecutive trading days, warrant holders will have to exercise their warrants or they will be cancelled.
TomaGold will use the proceeds from the private placement and the exercise of warrants to carry out exploration on its properties in Quebec, to finance its planned acquisitions, and for working capital purposes. The shares issued under the private placement are subject to a mandatory resale restriction period of four months and one day.
The private placement is subject to regulatory approval.
http://www.tomagoldcorp.com/en/
TomaGold Corporation (TSX-V: LOT) is
a Canadian-based mining exploration company focused on the acquisition,
evaluation, exploration and development of gold mining properties with a
view to commercial production.
The Company owns six gold properties in Northern Quebec: Monster Lake, Winchester, Lac à l'Eau Jaune and Lac Cavan near the Chibougamau mining camp, as well as Urban Lake in Lebel sur Quevillon and Vassan in Val-d'Or.
The technical content of this website has been reviewed and approved by Maurice Giroux, a qualified person as defined by NI 43-101. - See more at: http://www.tomagoldcorp.com/en/#sthash.70ZmjWhu.dpuf
The Company owns six gold properties in Northern Quebec: Monster Lake, Winchester, Lac à l'Eau Jaune and Lac Cavan near the Chibougamau mining camp, as well as Urban Lake in Lebel sur Quevillon and Vassan in Val-d'Or.
The technical content of this website has been reviewed and approved by Maurice Giroux, a qualified person as defined by NI 43-101. - See more at: http://www.tomagoldcorp.com/en/#sthash.70ZmjWhu.dpuf
TomaGold Corporation (TSX-V: LOT) is
a Canadian-based mining exploration company focused on the acquisition,
evaluation, exploration and development of gold mining properties with a
view to commercial production.
The Company owns six gold properties in Northern Quebec: Monster Lake, Winchester, Lac à l'Eau Jaune and Lac Cavan near the Chibougamau mining camp, as well as Urban Lake in Lebel sur Quevillon and Vassan in Val-d'Or.
The technical content of this website has been reviewed and approved by Maurice Giroux, a qualified person as defined by NI 43-101. - See more at: http://www.tomagoldcorp.com/en/#sthash.70ZmjWhu.dpuf
The Company owns six gold properties in Northern Quebec: Monster Lake, Winchester, Lac à l'Eau Jaune and Lac Cavan near the Chibougamau mining camp, as well as Urban Lake in Lebel sur Quevillon and Vassan in Val-d'Or.
The technical content of this website has been reviewed and approved by Maurice Giroux, a qualified person as defined by NI 43-101. - See more at: http://www.tomagoldcorp.com/en/#sthash.70ZmjWhu.dpuf
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