Tantalex Resources Corporation Provides Update
TORONTO, ONTARIO--(Marketwired - Nov 16, 2015) - Tantalex Resources Corp. (CSE:TTX)(FRANKFURT:1T0) (the "Company"), announces that it has completed a non-brokered private placement financing (the "Offering") raising in two closings gross proceeds of $175,000 through the issuance of 3,500,000 units ("Units") at $0.05 per Unit. Each Unit consisted of one common share in the capital of Tantalex (a "Common Share") and one common share purchase warrant (a "Warrant") of Tantalex. Each whole Warrant entitles the holder thereof to acquire one Common Share at an exercise price of $0.055 per Common Share up to the date that is eighteen (18) months from closing.
All securities issued under the Offering are subject to a four-month statutory hold period in Canada.
The Company is also pleased to announce the appointments of Michel Lebeuf Jr., and Sylvain Giffard as directors of the Company.
Michel Lebeuf is a partner of Briere & Lebeuf, a law firm that focuses primarily on securities, particularly in the areas of natural resources, institutional and corporate financing, and public and private mergers and acquisitions. Mr. Lebeuf represents public companies, securities brokers, buyers, sellers, bankers, and financial advisors. He provides strategic advice on access to public capital markets, securities, and structured products. Over the past two years, Michel Lebeuf has worked for many mining projects in Africa (Democratic Republic of Congo, Ethiopia, Angola, ROC) and his services are regularly used by mining developers, mining companies, and investment banking companies eager to develop mining projects in these countries. Michel also has extensive experience in corporate reorganizations, public and private transfers, and institutional funding.
Sylvain Giffard has held various strategic positions within Canadian and European private companies in the natural resource, energy and military sectors. Mr. Giffard is recognized for his government relations strategies in emerging markets such as Australasia, and Eastern Europe. Between 2001 and 2006, Mr. Giffard played a major role in a Canadian renewable energy company. Amongst other things, he participated in the parliamentary committee on energy security held in Quebec in 2005. He was also a speaker on several topics including the symposium on water management in Quebec in 1997, and emerged the publication of the White Paper for the establishment of a water management in Quebec.
Mr. Lebeuf and Mr. Giffard replace Jean-Robert Pronovost, who resigned as director effective November 1, 2015. The Company wishes to thank Mr. Pronovost for his efforts and we wish him well in his future endeavors.
Tantalex is a mining exploration and development company engaged in the acquisition, exploration and development of Tantalum and Niobium properties in Africa. The Company is listed on the Canadian Stock Exchange (symbol:TTX) and the Frankfurt Stock Exchange (symbol:1T0).
Cautionary Note Regarding Forward Looking Statements
The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although Tantalex believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, Tantalex disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.
The Canadian Securities Exchange (CSE) has not reviewed this news release and does not accept responsibility for its adequacy or accuracy.
