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Transatlantic Mining extends warrant term under previous placing

Thew private placing was announced on July 19 this year
Transatlantic Mining extends warrant term under previous placing
The US Grant mine complex is in Montana

Transatlantic Mining Corp (CVE:TCO) has changed some details of its July announced financing.

On July 19, this year, the metals group unveiled a placing of up to 22mln subscription receipts at 10 cents each.

These were convertible into units for no additional consideration, and up to an additional 53mln units at 10 cents each.

All the warrants issuable on conversion of the 22mln subscription receipts and under the additional 53mln units will now be exercisable for three years from the date of closing, instead of one year as originally announced, Transatalantic said today.

Each unit will now consist of one share and one share purchase warrant exercisable to buy a further share at 15 cents for three years from the date of closing.

Transatlantic Mining is engaged in controlling and owning mineral property interests, such as an 80% earn-in option on the Monitor copper-gold project in Idaho and the US Grant gold-silver mine and mill complex in Montana.

The company also holds an exclusive lease with the option to purchase on the Kearsage claim group comprising around 700 acres, which lies around four miles from the U.S. Grant mine.

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