Telson Resources Inc. Closes Final Tranche of Non-Brokered Private Placement
VANCOUVER, BRITISH COLUMBIA – March 25, 2013 – Telson Resources Inc. (TSX Venture - TSN) (“Telson” or the “Company”) has closed its non-brokered private placement initially announced on December 24, 2012. This final tranche was for gross proceeds of $180,000 (the “Private Placement”) by issuance of 1,800,000 units (each a “Unit”) of the Company, at a price of $0.10 per Unit. Each Unit consists of one common share (a “Share”) of the Company and one half of a share purchase warrant (each whole warrant a “Warrant”). Each Warrant is exercisable into one additional Share until March 12, 2014, at a price of $0.10 per Share. As a result of this final tranche the private placement was oversubscribed by $30,000 with total proceeds of $630,000.
The Company is using the proceeds of the Private Placement to fund its Mexican operations supporting its flagship Tahuehueto Project in Durango, Mexico and for general working capital.
OTCQX
Due to the current difficult market conditions being experienced by junior resource public companies the Company has decided to cancel its listing on the OTCQX board. The Company will continue to be listed on the OTCBB Pink Sheets under the symbol “SOHFF”. At such time that market conditions improve a decision will be made in regards to re-establishing the listing on the OTCQX.
ON BEHALF OF THE BOARD OF DIRECTORS
(signed) “Ralph Shearing”
Ralph Shearing, Chief Executive Officer
CONTACT
Glen Sandwell Email: [email protected] Tel: 1.800.685.0576 http://www.telsonresources.com
“Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”
WARNING: The Company relies upon litigation protection for "forward-looking" statements. This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of up-coming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Soho Resources Corp. relies upon litigation protection for forward-looking statements.
Suite 250, 1090 West Georgia St., Vancouver, BC, V6E 3V7, Canada Tel: 1.800.685.0576, Email: [email protected], http://www.telsonresources.com