Vancouver — Diamond explorer Tahera (TAH-T) is attempting to sell up to 11.1 million units priced at 18 each.
Dundee Securities will act as the agent on a best-effort basis. Each unit consists of one flow-through share and one warrant exercisable at 25 for a two-year period.
As the agent, Dundee will receive a number of shares equal to 5% of the total units sold.
Tahera recently added $3.25 million to its treasury, following the completion of a three-staged financing with Edensor Nominees Ltd. The Australian-based company is a trustee for the Joseph Gutnick family trust.
Edensor now owns 104 million shares in the junior, representing approximately 35% of the issued and outstanding shares.
Tahera is exploring the Jericho properties, some 420 km northeast of Yellowknife, N.W.T., and 170 km northeast of the Ekati diamond mine. The company is seeking regulatory approvals for the project and hopes to be in commercial production by 2003.
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