International diamond and metals exploration company, Tsodilo Resources has negotiated a non-brokered private placement of 2.2-million units of the company, which will provide gross proceeds of C$440,188.20.
Proceeds from the private placement will be used for the advancement of the Xaudum iron formation project, in Botswana, and for general corporate purposes and working capital.
A director of the company subscribed for 100,000 units. As a result, the private placement is a related party transaction.
Closing of the private placement is subject to, among other things, receipt by the company of TSX-V approval.
source: https://www.miningweekly.com/article/tsodilo-to-raise-c440-000-for-botswana-project-2023-01-23
Posted In: Mining
