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Telson Mining secures initial $2M trance of private placement

The tranche consisted of 19.5 million units, each containing one share and one half a share purchase unit, at a price of $0.10 per unit

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Telson's Tahuehueto mining project, located in Mexico’s north-western Durango state, is currently under construction and approximately 70% complete

Telson Mining Corporation (CVE:TSN) (OTCMKTS:SOHFF) has closed the first nearly $2 million tranche of its previously-announced non-brokered private placement. 

The tranche consisted of 19.5 million units, each containing one share and one half a share purchase unit, at a price of $0.10 per unit. A whole share purchase warrant entitles its holder to purchase an additional share at a price of $0.25 within two years of the tranche’s closing.

Estratégica Corporativa en Finanzas SAPI de CV, an entity based in Mexico, acquired 5.8 million shares at the $0.10 price and an additional 2.9 million shares at $0.25 via purchase warrants.

READ: Telson Mining Corp restarts mining operations at Campo Morado in Mexico

The Vancouver-based company originally announced the private placement on December 27.

Telson's Tahuehueto mining project, located in Mexico’s north-western Durango state, is currently under construction and approximately 70% complete.

Contact Andrew Kessel at [email protected] 

Follow him on Twitter @andrew_kessel

Quick facts: Telson Mining Corporation

Price: 0.06 CAD

TSX-V:TSN
Market: TSX-V
Market Cap: $9.54 m
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Full interview: Telson Mining prepares to restart Campo Morado in Mexico

Telson Mining (CVE:TSN) President Ralph Shearing joined Steve Darling from Proactive Vancouver to discuss a major update from their operations in Mexico. Shearing telling Proactive they’re planning to restart the Campo Morado mine. Shearing told Proactive what the timeline to restart will...

on 01/14/2020

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