|By Marketwired .||
|August 15, 2014 05:16 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 08/15/14 -- Tesoro Minerals Corp. (the "Company") (TSX VENTURE: TES) is pleased to announce it has closed the second and final tranche (the "Second Tranche") of a non-brokered private placement previously announced on July 8, 2014 (the "Offering").
The Company closed the Second Tranche of the Offering on August 15, 2014 by issuing 700,000 units (the "Units") at a price of $0.10 per Unit for gross proceeds of $70,000. Each Unit comprised of one common share ("Common Share") and one Common Share purchase warrant (the "Warrants"). Each Warrant entitles the holder to purchase one additional Common Share at a price of $0.20 per Common Share for the first year from the date of issue, and at an additional $0.05 per Common Share for each subsequent year until the expiry of the Warrants five years after the date of issue.
The Company paid finder's fees for certain Units of the Second Tranche totalling $4,900 and 7,000 broker warrants (the "Broker Warrants").
The Common Shares issued in the Second Tranche and the Common Shares to be issued pursuant to the exercise of the Warrants and Broker Warrants are all subject to a hold period expiring December 16, 2014.
Completion of the Second Tranche and the Offering is subject to the final approval of the TSX Venture Exchange.
Pursuant to the Offering, a total of 5,045,000 Units was subscribed for at a price of $0.10 per Unit which included an oversubscription of 45,000 Units and resulted in gross proceeds of $504,500.
The net proceeds from the Offering will be used for further evaluation of the Company's gold exploration projects in Colombia and for general corporate purposes.
About Tesoro Minerals Corp.
Tesoro Minerals Corp. (TSX VENTURE: TES) is a mineral exploration company with major land positions in three of Colombia's most prolific gold regions including Antioquia, Tolima-Quindio, and Santander-Norte de Santander. The Company has assembled a team of experienced geoscientists with extensive exploration experience in the Americas with the aims of advancing its assets towards discovery.
On Behalf of Tesoro Minerals Corp.
Peter Tegart, 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.
Tesoro Minerals Corp.
President and CEO
Red Hat is investing in Tesora, the number one contributor to OpenStack Trove Database as a Service (DBaaS) also ranked among the top 20 companies contributing to OpenStack overall. Tesora, the company bringing OpenStack Trove Database as a Service (DBaaS) to the enterprise, has announced that Red Hat and others have invested in the company as a part of Tesora's latest funding round. The funding agreement expands on the ongoing collaboration between Tesora and Red Hat, which dates back to Febr...
Sep. 1, 2015 04:30 PM EDT Reads: 386
Sep. 1, 2015 04:15 PM EDT Reads: 431
Sep. 1, 2015 04:00 PM EDT Reads: 195
Sep. 1, 2015 04:00 PM EDT Reads: 205
Sep. 1, 2015 03:00 PM EDT Reads: 508
Sep. 1, 2015 03:00 PM EDT Reads: 439
Sep. 1, 2015 02:45 PM EDT
Sep. 1, 2015 02:45 PM EDT Reads: 136
Sep. 1, 2015 02:30 PM EDT Reads: 210
Sep. 1, 2015 01:00 PM EDT
Sep. 1, 2015 12:45 PM EDT Reads: 474
Sep. 1, 2015 12:30 PM EDT
Sep. 1, 2015 12:30 PM EDT Reads: 909
Sep. 1, 2015 12:30 PM EDT Reads: 258
Sep. 1, 2015 12:15 PM EDT Reads: 249