Tasman Announces First Tranche Private Placement Closing and Oversubscription
11 Fevereiro 2014 - 11:45AM
Marketwired
Tasman Announces First Tranche Private Placement Closing and
Oversubscription
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 11, 2014) -
Tasman Metals Ltd. ("Tasman" or the "Company")
(TSX-VENTURE:TSM)(FRANKFURT:T61)(NYSEMKT:TAS)(NYSE Amex:TAS). The
Company is pleased to announce that further to its news release of
January 22, 2014, the Company has closed the first tranche of its
private placement financing (the "First Tranche") and has issued
3,875,863 units at a price of CDN$1.10 per unit (the "Unit") for
gross proceeds of CDN$4,263,449.30. Each Unit consists of one
common share and one non-transferable common share purchase
warrant. Each non-transferable common share purchase warrant
exercisable at a price of CDN$1.50 per common share for a period of
three years expiring on February 11, 2017.
The net proceeds of the private placement are expected to be
used to advance work on the Company's Norra Karr and Olserum
projects and for general working capital purposes.
The Company has paid finders a cash commission of 7% of certain
proceeds and will issue up to 9,450 non-transferable finder's
warrants with each finder's warrant having the same terms as the
warrants issued under this private placement financing. The Company
has also issued 192,000 compensation options exercisable into Units
to one finder with each unit having the same terms as the Units
issued under this private placement financing.
Under the First Tranche closing, Mr. Mark Saxon, President, CEO
and a director of the Company, has purchased 10,000 Units for gross
proceeds of $11,000. Mr. Saxon now holds approximately 4.19% of the
issued and outstanding shares of the Company on a non-diluted
basis. Mr. Robert Atkinson, a director of the Company, has
purchased 50,000 Units for gross proceeds of $55,000. Mr. James
Powell, Vice-President of Corporate Development for the Company,
has purchased 23,000 Units for gross proceeds of $25,300.
The securities issued under the private placement will be
subject to a four-month hold period expiring on June 12, 2014.
The Company anticipates closing a second tranche of its private
placement financing (the "Second Tranche") in March. The Second
Tranche is intended to include two TSX Venture Exchange listed
issuers, Caymus Resources Inc. ("Caymus") and Ava Resources Corp.
("Ava"). It is anticipated that Caymus and Ava will collectively
subscribe for approximately 1,032,102 Units in the Second Tranche.
Caymus and Ava have announced their intentions to wind-up their
operations after their subscription in the Second Tranche and to
distribute the Units to their shareholders outside the United
States (and cash is lieu of Units to their shareholders outside the
United States) in liquidation. The closing of Caymus' and Ava's
proposed transactions is subject to a number of conditions,
including but not limited to, the receipt of all requisite
regulatory approvals, including final exchange acceptance, and the
approval of the shareholders of each of Caymus and Ava. As a result
of Caymus' and Ava's winding-up transactions, it is anticipated
that, on closing of the Second Tranche, Mr. DeMare, an officer,
director and shareholder of the Company who is also a director and
shareholder of both Caymus and Ava, will acquire 3,154 Units as a
result of his shareholdings in Caymus and 1,502 Units as a result
of his shareholdings in Ava.
Caymus' and Ava's subscription in the Second Tranche will result
in the private placement financing being oversubscribed by 367,511
Units for additional gross proceeds of $404,262. Subject to
regulatory approval, finder's fees consisting of cash and units may
be paid in connection with the Second Tranche closing.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in the United
States. The securities have not been and will not be registered
under the United States Securities Act of 1933, as amended (the
"U.S. Securities Act") or any state securities laws and may not be
offered or sold within the United States or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is
available.
On behalf of the Board,
Mark Saxon, President & CEO
The TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture
Exchange), the NYSE - MKT nor the Frankfurt Stock Exchange accepts
responsibility for the adequacy or accuracy of this news
release.
Cautionary Statements. Certain statements found in this release
may constitute forward-looking statements as defined in the U.S.
Private Securities Litigation Reform Act of 1995. Forward-looking
statements reflect the speaker's current views with respect to
future events and financial performance and include any statement
that does not directly relate to a current or historical fact. Such
statements reflect the current risks, uncertainties and assumptions
related to certain factors including, without limitations,
competitive factors, delays resulting from or inability to obtain
required regulatory approvals in connection with the private
placement, the ability of the Company to close the private
placement, the ability of Caymus and Ava to participate in the
private placement, general economic conditions, customer relations,
uncertainties related to the availability and costs of financing,
unexpected geological conditions, success of future development
initiatives, imprecision in resource estimates, ability to obtain
necessary permits and approvals, relationships with vendors and
strategic partners, the interest rate environment, governmental
regulation and supervision, seasonality, technological change,
changes in industry practices, changes in world metal markets,
changes in equity markets, environmental and safety risks, and
one-time events. Should any one or more of these risks or
uncertainties materialize, or should any underlying assumptions
prove incorrect, actual results may vary materially from those
described herein. The Company's actual results, performance or
achievements could differ materially from those expressed in, or
implied by, these forward-looking statements and, accordingly, no
assurances can be given that any of the events anticipated by the
forward-looking statements will transpire or occur, or if any of
them do so, what benefits, including the amount of proceeds, that
the Company will derive therefrom. Forward-looking statements
cannot be guaranteed and actual results may vary materially due to
the uncertainties and risks, known and unknown, associated with
such statements. Shareholders and other readers should not place
undue reliance on "forward-looking statements," as such statements
speak only as of the date of this release.
Tasman Metals Ltd.Jim PowellV.P. - Corporate Development+ 1
(647) 478 8952jpowell@tasmanmetals.comTasman Metals Ltd.Mariana
Bermudez+1 (604) 685
9316info@tasmanmetals.comwww.tasmanmetals.com
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