Tamerlane Ventures Inc. (TAM: TSX-V) announces that it has closed the second and final tranche of a private placement offering. The proceeds from this final tranche were $133,800 in Units. Each Unit, issued at C$0.30 per Unit, consists of One Common Share and One Common Share Purchase Warrant, which is exercisable into an additional Common Share of Tamerlane at C$0.40 for 18 months. Proceeds from the Units will be used for general working capital purposes.
Tamerlane paid a commission of 6.5% in cash and 6.5% in Broker Warrants. The Broker Warrants will have the same attributes as the Warrants set out above.
All of the securities issued under this financing will be subject to a four-month hold period.
On behalf of the Board of Directors,
“Ross F. Burns”
President & CEO
For further information, please contact:
Vice President, Investor Relations
Phone: (360) 312-9910
Fax: (360) 312-8549
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this press release.