Tosca Mining Corporation Announces a Non-Brokered Private Placement
VANCOUVER, British Columbia--(BUSINESS WIRE)--Tosca Mining Corporation (TSQ.V; FSE:TQ4) has arranged a non-brokered private placement offering of up to 6 million units at a price of five cents per unit for gross proceeds of up to $300,000. Under the terms of the offering, each unit will consist of one common share in the capital of the company and one non-transferable common share purchase warrant. Each warrant will entitle the holder to purchase one additional share of the company for a period of two years from the date of issue, at a price of $.075 in year one and $.10 in year two. Finders' fees may be payable. The private placement and finders' fees are subject to regulatory approval.
Proceeds from the placement will be utilized for initial work on its recently optioned Carol Copper Project located in Sonora, Mexico and for general working capital.
On behalf of the Board of Directors,
Neither 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.
Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.