Die Altaktionäre bedanken sich höflichst...unglaublich, aber immer wieder wahr!
Tournigan arranges $2.5-million unit financing
2003-09-16 17:12 ET - News Release
Mr. Damien Reynolds reports
TOURNIGAN TO RAISE $2.5 MILLION
Tournigan Gold has arranged a partially brokered private placement of 10 million units at 25 cents to raise $2.5-million. Each unit consists of one common share and one
non-transferable share purchase warrant. Two share purchase warrants are exercisable to purchase one common share at 30 cents until Dec. 31, 2004.
A significant amount of this placement is being financed by two United Kingdom-based institutional investment funds. Agents assisting on the brokered portion will
attract a cash commission of 7 per cent, as well as such amount of agent`s warrants as is equal to 10 per cent of the units sold, priced at 30 cents per share, exercisable until Dec.
31, 2004. The placement is subject to approval of regulatory authorities.
Proceeds will be used to continue development on the company`s gold projects in Northern Ireland. Phase one drilling in Northern Ireland should be completed shortly, with
results expected by the end of September. The bridge loan from Quest Capital, undertaken to acquire the Kremnica gold project in the Slovak Republic, will also
be repaid in full. This will give Tournigan an unencumbered 100-per-cent interest in the Kremnica gold project. In the near future, Tournigan anticipates reporting on the
continuing development of both the Kremnica and Northern Irish gold projects.