Robert McEwen Joins Tone Resources...Robert McEwen Joins Tone Resources, Teck Over Subscribes PP
Tone Resources Ltd (TSX-V:TNS)
Shares Issued 13,653,574
Last Close 12/14/2005 $0.85
Thursday December 15 2005 - News Release
Mr. Scott Baxter reports
As previously reported in Stockwatch Nov. 30, 2005, Tone Resources Ltd. is arranging a private placement of three million units. The company is pleased to announce Robert McEwen has agreed to subscribe for 2.5 million of the units. In addition, the company is also pleased to announce the private placement has been increased to 3.3 million units to accommodate pre-existing financing rights held by Teck Cominco. The private placement is subject to regulatory approval.
Mr. McEwen will come on board as a director. Mr. McEwen is chairman and chief executive officer of U.S. Gold Corporation and Lexam Explorations Inc., and was the founder and former chairman and CEO of Goldcorp Inc., which is one of the world's top 10 gold producers. Mr. McEwen holds an honorary doctor of law degree, York University, Toronto, and an MBA from Schulich School of Business, York University, Toronto, Ont., Canada. He is also a member of WPO, the Canadian Council of Chief Executives and the Dean's advisory board, Schulich School of Business.
ON BEHALF OF THE BOARD OF DIRECTORS
“Scott Baxter”
Scott Baxter, President and CEO
Contact: Scott Baxter, President, Email: scott.baxter@shaw.ca
North America Toll Free: 1-888-737-2454, Tel: 604-263-5614, Fax: 604-263-8415
Website: www.ToneResources.com