The net proceeds of the private placement are expected to be used to advance work on the Company's
The Company has paid finders a cash commission of 7% of certain proceeds and will issue up to 9,450 non-transferable finder's warrants with each finder's warrant having the same terms as the warrants issued under this private placement financing. The Company has also issued 192,000 compensation options exercisable into Units to one finder with each unit having the same terms as the Units issued under this private placement financing.
Under the First Tranche closing, Mr.
The securities issued under the private placement will be subject to a four-month hold period expiring on
The Company anticipates closing a second tranche of its private placement financing (the "Second Tranche") in March. The Second Tranche is intended to include two
Caymus' and Ava's subscription in the Second Tranche will result in the private placement financing being oversubscribed by 367,511 Units for additional gross proceeds of
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in
On behalf of the Board,
Cautionary Statements. Certain statements found in this release may constitute forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect the speaker's current views with respect to future events and financial performance and include any statement that does not directly relate to a current or historical fact. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, delays resulting from or inability to obtain required regulatory approvals in connection with the private placement, the ability of the Company to close the private placement, the ability of Caymus and Ava to participate in the private placement, general economic conditions, customer relations, uncertainties related to the availability and costs of financing, unexpected geological conditions, success of future development initiatives, imprecision in resource estimates, ability to obtain necessary permits and approvals, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, changes in world metal markets, changes in equity markets, environmental and safety risks, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive therefrom. Forward-looking statements cannot be guaranteed and actual results may vary materially due to the uncertainties and risks, known and unknown, associated with such statements. Shareholders and other readers should not place undue reliance on "forward-looking statements," as such statements speak only as of the date of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Tasman Metals Ltd. Jim PowellV.P. - Corporate Development + 1 (647) 478 8952 firstname.lastname@example.org Tasman Metals Ltd. Mariana Bermudez+1 (604) 685 9316 email@example.com Source: Tasman Metals Ltd.