Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Tower Announces Non-Brokered Private Placement

V.TWR

Vancouver, British Columbia--(Newsfile Corp. - May 25, 2020) - Tower Resources Ltd. (TSXV: TWR) ("Tower" or the "Company") announces that it intends to complete a non-brokered private placement (the "Offering") of up to 8,333,333 units (each a "Unit") at $0.06 per Unit for gross proceeds of up to $500,000. The Company intends to use the net proceeds from the Offering to explore the mineralized zones from its recent reverse circulation and diamond drill program on its Nechako property, see the Company's press release of May 6, 2020, and for general working capital purposes.

Each Unit will consist of one (1) common share in the capital of the Company (each a "Common Share") and one (1) transferable Common Share purchase warrant (each a "Warrant"). Each Warrant will entitle the holder to purchase one Common Share at price of $0.10 per Common Share until the date which is two (2) years from the date of issuance. The Company may pay certain finders a fee for introducing eligible participants to the Offering.

All securities issued under the Offering, including securities issuable on exercise thereof, are subject to a hold period expiring four months and one day from the date of issuance.

The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

About Tower Resources

Tower is a Canadian based mineral exploration company focused on the discovery and advancement of economic mineral projects in the Americas. The Company's key exploration assets are the Rabbit North copper-gold porphyry project located between the New Afton and Highland Valley Copper mines, the Nechako gold project near New Gold's Blackwater project and the More Creek gold project in the Golden Triangle area of Northern British Columbia.

On behalf of the Board of Directors
Tower Resources Ltd.

Joe Dhami, President and CEO
www.towerresources.ca
lhodges@towerresources.ca

Reader Advisory

This news release may contain statements which constitute "forward-looking information", including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.

Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/56438



Get the latest news and updates from Stockhouse on social media

Follow STOCKHOUSE Today