CALGARY, July 17 /CNW/ - TANQUERAY RE
SOURCES LTD. (TQY-TSX-V) (the
"Company") is pleased to announce that it has closed the remainder of its
brokered private placement and has today issued an aggregate of 4,146,000 Flow
Through Shares at a price of $0.12 per share for aggregate gross proceeds of
$497,520. 2,500,000 of the Flow-Through Shares were issued to the
"We are very pleased to be entering into this relationship with
MineralFields Group." said Mr. Alan Farmer, Chairman of the Board. This is an
important milestone in the growth of Tanqueray Resources Ltd. and we look
forward to working with MineralFields Group as we develop our holdings in the
Kirkland Lake, Ontario region."
The securities issued pursuant to the private placement are subject to a
four month hold from the date hereof.
The Flow-Through funds will be used for exploration on the Company's
newly acquired Kirkland Lake Gold Properties.
About MineralFields, Pathway and First Canadian Securities(R)
MineralFields Group (a division of Pathway Asset Management) is a
Toronto-based mining fund with significant assets under administration that
offers its tax-advantaged super flow-through limited partnerships to investors
throughout Canada during most of the calendar year, as well as hard-dollar
resource limited partnerships to investors throughout the world. Pathway Asset
Management also specializes in the manufacturing and distribution of
structured products and mutual funds. Information about MineralFields Group is
available at www.mineralfields.com. First Canadian Securities(R), a division
of Limited Market Dealer Inc., is active in leading resource financings (both
flow-through and hard-dollar PIPE financings) on competitive, effective and
service-friendly terms, with investors both within and outside of
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
For further information:
For further information: TANQUERAY RESOURCES LTD., ALAN FARMER, Chairman
of the Board, Phone: (403) 263-9055, Fax: (403) 263-9061; STEPHEN AVENUE
SECURITIES INC., TERRY FALKENBERG, President, Phone: (403) 777-2442, Fax: