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Tuscany Energy to secure $1,000,000 through financing


Published Dec 8, 2014
Tuscany Energy Ltd.

Tuscany Energy Ltd. plans to issue up to 2.27 million common shares of the Company on a flow-through basis (the "Flow-Through Shares") at a price of $0.44 per Flow-Through Share for total consideration of up to approximately $1,000,000. Tuscany will renounce to subscribers of the common shares effective on or before December 31, 2014, eligible Canadian Exploration Expense in an amount equal to the aggregate gross proceeds of the offering.

The offering will be completed on a private placement basis and is subject to the approval of the TSX Venture Exchange. The Flow-Through Shares issued pursuant to the private placement will be subject to a four month hold period under Canadian securities laws. Closing of the private placement is expected to occur on or about December 10, 2014. Tuscany may pay a commission of up to 5% of the gross proceeds realized from the issuance of Flow-Through Shares to subscribers identified by registered representatives.

Tags: Tuscany Energy Ltd.




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