Tournigan Mining Explorations plans to raise net proceeds of $500,000 from a private placement which the company says will be added to its general working capital.
As the company’s agent, Deacon, Morgan, McEwan, Easson will place 500,000 A warrants at $1.20 per warrant, with not more than six investors. Each A warrant will give the holder the right, for one year, to purchase one common share and one-half of a B warrant at the price of $0.05.
Each whole B warrant will give the holder the right to purchase one common share of Tournigan for two years from the date of the initial placement, at a price of $1.25.
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