Tamerlane Announces Flow-Through Unit Financing



    BLAINE, WA, Aug. 19 /CNW/ - Tamerlane Ventures Inc. (TAM: TSX-V)
announces today that, subject to regulatory approval, the Company has closed a
non-brokered private placement of 500,000 Flow-Through Units at a subscription
price of C$0.60 per Flow-Through Unit for gross proceeds of C$300,000. Each
Unit comprised one Common Share and One-Half of One Common Share Purchase
Warrant. Each whole Common Share Purchase Warrant will entitle the holder to
purchase an additional Common Share at an exercise price of C$0.80 per share
for a period of 18 months. The MineralFields group of companies purchased the
entire amount of the offering. For introducing certain investors to the
Company, the Company paid a 7% cash finder's fee and issued broker warrants
equal to 5% of the number of Units issued to those investors. Each warrant
will be exercisable into one Common Share at a price of C$0.60 per share for a
period of 18 months.
    This financing was previously announced on July 2, 2008 when it was
anticipated that the Company would raise up to $2.25 million. Due to market
conditions the financing was not completed. As a result, the Company announces
today that, subject to regulatory approval, it intends to complete a
non-brokered private placement of up to 4.5 million Flow-Through Units at a
subscription price of C$0.45 per Flow-Through Unit for gross proceeds of up to
C$2.03 million. Each Unit will comprise one Common Share and One-Half of One
Common Share Purchase Warrant. Each whole Common Share Purchase Warrant will
entitle the holder to purchase an additional Common Share at an exercise price
of C$0.60 per share for a period of 18 months. For introducing certain
investors to the Company, the Company will pay a 7% cash finder's fee and will
issue broker warrants equal to 5% of the number of Units issued to those
investors. Each warrant will be exercisable into one Common Share at a price
of C$0.60 per share for a period of 18 months.
    All of the securities issued in these private placements will be subject
to a four-month hold period.
    The proceeds from the unit offerings will be used to fund additional
surface drilling at the Pine Point Zinc-Lead Project in the Northwest
Territories.

    "Ross F. Burns"
    President & CEO

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of the contents of this press
    release.

    Caution Concerning Forward-Looking Information

    This press release contains forward-looking information within the
meaning of applicable securities laws. We use words such as "may", "will",
"should", "anticipate", "plan", "expect", "believe", "estimate" and similar
terminology to identify forward-looking information. It is based on
assumptions, estimates, opinions and analysis made by management in light of
its experience, current conditions and its expectations of future developments
as well as other factors which it believes to be reasonable and relevant.
Forward-looking information involves known and unknown risks, uncertainties
and other factors that may cause our actual results to differ materially from
those expressed or implied in the forward-looking statements and accordingly,
readers should not place undue reliance on those statements. Risks and
uncertainties that may cause actual results to vary include but are not
limited to the speculative nature of mineral exploration and development,
including the uncertainty of reserve and resource estimates; operational and
technical difficulties; the availability to the Company of suitable financing
alternatives; fluctuations in zinc, lead and other resource prices; changes to
and compliance with applicable laws and regulations, including environmental
laws and obtaining requisite permits; political, economic and other risks
arising from our activities; fluctuations in foreign exchange rates; as well
as other risks and uncertainties which are more fully described in our annual
and quarterly Management's Discussion and Analysis and in other filings made
by us with Canadian securities regulatory authorities and available at
www.sedar.com.




For further information:

For further information: Brent Jones, Manager of Investor Relations,
E-mail: bjones@tamerlaneventures.com, Phone: (360) 332-4653, Fax: (360)
332-4652, Website: www.tamerlaneventures.com

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TAMERLANE VENTURES INC.

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