Updated PP terms
TAM has updated the terms for the PP:
"The Company intends to complete an offering of up to 6,111,111 units (each a"Unit") priced at C
.18 per Unit, for aggregate proceeds of up to C$1.1million. Each Unit will consist of one common share of the Company, one-halfof a C
.25 common share purchase warrant (each an "A Warrant"), and one-halfof a C
.32 common share purchase warrant (each a "B Warrant")".
"Ross F. Burns, the President and CEO of the Company, and Cowan McKinney,a director of the Company, are expected to participate in the offering, andwill each subscribe for approximately 4.5% (or 277,778) of the Units availablethereunder".
I think the update, and the specific information given, signals that the PP will be a success this time.
It's positive that Burns and McKinney participates, even if Burns only adds 50 000 CAD. It adds credibility, and with every share ownership increase, Burns interests as CEO becomes a bit more correlated with our interests as shareholders.
Let's hope for some much needed financial stability in the TAM camp, since we have a bull market to catch up with. For example, just look at the (to some extent) comparable company Selwyn Resources (v.swn) performance last month.