The second tranche consisted of $30,000 being received for an issuance of 600,000 units. A total of $295,000 of the financing has been subscribed for.
All securities issued under the second tranche of the private placement are subject to a statutory hold period expiring on May 3, 2014, in accordance with applicable Canadian securities laws.
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. In addition, The Board of Directors authorized the allocation of 890,000 stock options to directors and consultants at a price of $.08 for a period of five years.
On behalf of the Board of Directors,
“Ron Shenton”
Ron Shenton
President & CEO
Tosca Mining Corp.
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.
To view the press release as a PDF file, please click on the following link:
http://www.usetdas.com/pr/tosca01022014.pdf
Source: TOSCA Mining Cor. (TSX-V TSQ)
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