Tana Resources arranges $175,000 private placement

Executive Summary

• Tana Resources Corp. announced a non-brokered private placement of up to 4,375,000 common shares at $0.04 per share, targeting gross proceeds of up to $175,000.
• The company intends to use the net proceeds for working capital and general corporate purposes.
• The offering has no minimum subscription requirement and may be closed in one or more tranches, subject to regulatory and exchange approvals.

Key Details

• Transaction Type: Non-brokered private placement.
• Security: Common shares of Tana Resources Corp.
• Quantity: Up to 4,375,000 shares.
• Price: $0.04 per share.
• Gross Proceeds: Up to $175,000.
• Use of Proceeds: Working capital and general corporate purposes.
• Minimums: No minimum number of shares or minimum aggregate proceeds required to close.
• Tranches: The company may elect to close the offering in one or more tranches at its discretion.
• Hold Period: Securities are subject to a statutory hold period of four months plus one day from the date of issuance.
• Conditions: Closing is subject to receipt of all necessary regulatory and corporate approvals, including approval from the Canadian Securities Exchange.