The private placement consists of issuance of 3,800,000 shares at a price of $0.05 per share with 3,800,000 share purchase warrants. Each share purchase warrant shall entitle its holder thereof to acquire one additional common share of Typhoon at a price of $0.075 for a period of 12 months from the closing date.
No commission will be paid for this private placement and no insiders has participates to this private placement.
All securities issued pursuant to the private placement are subject to a four-month and one day hold period following closing. The private placement is subjects to the final approval of the TSX Venture Exchange.
Proceeds of the private placement will be applied toward meeting short term operating working capital requirements.
Typhoon is a junior mining exploration company, the common shares of which are listed on the TSX Venture Exchange
SOURCE Typhoon Exploration Inc.
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