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Telson Mining upsizes private placement to $1.4 million

The funds will boost working capital and advance Telson's Tahuehueto gold mining project, in north-western Durango state, in Mexico

Telson Mining Corporation - Telson Mining upsizes private placement to $1.4 million
Telson Mining is a Canadian mining company with two Mexican gold, silver, and base metal mining projects

Telson Mining Corporation (CVE:TSN) (OTCMKTS:SOHFF) said Thursday that it is increasing the maximum amount to be raised in a non-brokered private placement to $1.4 million to boost working capital and advance the company's Tahuehueto gold mining project, in north-western Durango state, in Mexico.

The Canadian junior resource group focused on developing mines in Mexico said it plans to conduct a non-brokered private placement of up to 14 million units at a price of $0.10 per unit for total proceeds of up to $1.4 million.

READ: Telson Mining moving closer to finishing Tahuehueto mine after funding alliance with Accendo Banco

Each unit will consist of one share and one half of a transferable share purchase warrant. Each whole warrant will entitle the holder to acquiring an additional share for a period of two years at an exercise price of $0.15 per share. The placement will close after getting the necessary regulatory approvals, said the company.

Telson Mining is a Canadian mining company with two Mexican gold, silver, and base metal mining projects.

Contact the author Uttara Choudhury at [email protected]

Follow her on Twitter: @UttaraProactive

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TSX-V:TSN
Market: TSX-V
Market Cap: $35.07 m
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