Blaine, WA: Tamerlane Ventures Inc. (TAM: TSX-V) announces today that it has closed its previously announced non-brokered private placement of approximately 14.286 million Units at a subscription price of C$0.35 per Unit for gross proceeds of C$5.0 million. Each Unit comprises One Common Share and One-Half of One Common Share Purchase Warrant. Each whole Common Share Purchase Warrant entitles the holder to purchase an additional Common Share at an exercise price of C$0.45 per share for a period of 18 months. The securities issued in this private placement will be subject to a four-month hold period.
The proceeds of the financing will be used to fund the feasibility study on the Pine Point lead-zinc project and for general corporate purposes.
“Ross F. Burns”
President & CEO
For further information, please contact:
Tom Thomsen, Investor Relations Consultant
Graham Eacott, Vice President, Investor Relations
Phone: (360) 332-4653
Fax: (360) 332-4652
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this press release. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1933 and as amended in Section 27E of the 1934 Act.