Tatmar Closes Private Placement
TATMAR VENTURES INC.
Tatmar Closes Private Placement
Vancouver, British Columbia – Tatmar Ventures Inc. (TSXV. – TAT) (the “Company”)
November 24, 2010
By news release dated November 2, 2010 the Company announced a non-brokered private placement to raise up to CAD$1,710,000 through the sale of up to 3,420,000 units (each a “Unit”) of the Company at a purchase price of $0.50 per Unit (the “Private Placement”). Each Unit consists of one common share of the Company and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share of the Company at an exercise price of $0.65 per share for a period of 12 months following the closing of the Private Placement.
The Private Placement was oversubscribed and the Company has raised an aggregate $1,745,000 through the sale of 3,490,000 Units. Finder’s fees of $34,800.00 and 57,600 warrants (the “Finder’s Fee Warrants”) were paid in connection with the Closing. The Units and Finder’s Fee Warrants issued are subject to a hold period expiring March 20, 2011.
The Private Placement proceeds will be primarily used to finance exploration of the Company’s Golden Brew property and for general working capital purposes.
ON BEHALF OF THE BOARD OF DIRECTORS,
“Gordon P. Leask”
Gordon P. Leask, P. Eng.
President and CEO
Additional Information - For more information please contact us at (604) 681-4462.
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.
Cautionary Note: This news release contains forward-looking statements regarding the Company’s intended use of proceeds from its private placement. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. There is no assurance that the Company will expend the proceeds of the private placement in the manner contemplated. Actual results may differ materially from those currently anticipated in such statements.
SUITE #922, 510 WEST HASTINGS STREET, VANCOUVER, BC V6B 1L8 TEL: (604) 681-4462 EMAIL: [email protected]