Taranis Resources Inc. (TRO) (TNREF) has closed the private placement and the debt settlement originally announced on Dec. 23, 2016.
The closing of the private placement consisted of the issuance of 650,000 units at a price of 10 cents per unit, each consisting of one common share and one share purchase warrant, with each warrant entitling the holder to purchase one additional common share at a price of 11 cents until Jan. 12, 2019. The closing of the debt settlement consisted of the issuance of 585,600 common shares at a deemed price of 10 cents per share to settle outstanding indebtedness of $58,560.
All of the securities issued pursuant to the private placement and the debt settlement, including any shares that may be issued pursuant to the exercise of the share purchase warrants forming part of the private placement units, are subject to a hold period in Canada until May 13, 2017.
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