Tasca Resources to Proceed to Private Placement of Units and Grants Incentive Share Purchase Options
02.11.2016 | FSCwire
Vancouver - Tasca Resources Ltd. (TSXV – TAC) (“Tasca” or “the Company”) wishes to announce that it intends to proceed with a private placement of up to 3,750,000 Units at $0.12 per Unit for gross proceeds of up to $450,000. Each Unit is comprised of one common share at $0.12 and one warrant exercisable at $0.18 per common share for one year. Once the private placement is closed, the securities issued will be subject to a four month and a day hold period. There may be finder’s fee payable subject to TSX Venture Exchange acceptance. The Company intends using the proceeds from this financing for general working capital purposes and to fund exploration programs on its mineral properties, specifically the recently announced Bleiberg Property, (see Tasca’s news release dated October 18, 2016)About the Bleiberg Property
The Bleiberg Property hosts an extensive mining infrastructure with more than 1150 kilometres of tunnels and 3 mine shafts. Historic production was about 500,000 tons per year, and it was one of the 6 largest Germanium producers in the world while it was in production. Average grades were 6 percent zinc, 1 percent lead and 200 parts per million (ppm) germanium.
Source: ARCHIV FÜR LAGERSTÄTTENFORSCHUNG DER GEOLOGISCHEN BUNDESANSTALT, Arch. f. Lagerst.forsch. Geol. B.-A. ISSN 0253-097X Band 18 S. 5–33 Wien, Juni 1995, Austrian Resource Potential of Specialty Metals (Ga, In, Tl, Se, Te, Cd) in Lead-Zinc and Other Ores.
Incentive Share Purchase Option Grants
The Company has granted an aggregate of 1,400,000 share purchase options at an exercise price of $0.10 per share, with a term of five years. This grant is the first grant of share purchase options under the Company’s “10%” 2016 rolling stock option plan approved by shareholders at its recent AGM and brings the total options granted to 9.8 % of the Company’s issued and outstanding shares.
The foregoing incentive share purchase option grants are subject to the approval of the policies of the TSX Venture Exchange (“TSXV”).
For further info on the Company please visit www.tascaresources.com or email tascaresources@gmail.com.
On Behalf of the Board of Tasca Resources Ltd.,
Clive Massey, President & CEO
Telephone: (604) 644-6794
“Neither the 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.”
