BRIEF

on Tsodilo Resources Limited (isin : CA8985301008)

Tsodilo Resources Limited Announces Non-Brokered Private Placement of Units

Tsodilo Resources Limited, a company traded on the TSX Venture Exchange under the symbol TSD, declared a non-brokered private placement of 1,042,500 units at CDN $0.30 per unit, anticipating gross proceeds of approximately CDN $312,750. This initiative will financially support the Xaudum Iron Formation project in Botswana along with general corporate and working capital needs.

The financial arrangement comprises each unit containing one common share and one purchase warrant. The warrant allows purchase of an additional common share at USD $0.30 within 24 months post-closure. Additionally, securities in this placement, including common shares and warrants, will undergo a statutory holding period of four months plus a day, following regulatory standards.

The completion of this private placement is contingent upon receiving approval from the TSX Venture Exchange. With this strategic financial maneuver, Tsodilo aims to advance its position in mineral exploration, focusing on the promising Botswana projects.

R. H.

Copyright © 2024 FinanzWire, all reproduction and representation rights reserved. Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.

Click here to consult the press release on which this article is based

See all Tsodilo Resources Limited news