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Tango Mining poised to raise $225,000 in placing

Tuesday, April 4, 2017 11:26
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(Before It's News)

Tango Mining Ltd (CVE:TGV) is set to raise $225,000 after it received approval for a private placing of 4.5mln units.

The units will be issued at five cents each and comprise one share and one warrant entitling the bearer to buy a further share at $0.07 each for one year from the date of issue.

Tango has also agreed to pay a finder’s fee of $13,500 and issue 270,000 finder’s warrants exercisable also for a year at $0.07 per share.

The firm has four thermal coal, metallurgical, and processing plant and engineering contracts that process 6.5mln tonnes a year, with clients which include Exxaro and Glencore (LON:GLEN).

These are within the Ogies and Highveld coalfields, Mpumalanga province, and Kliprivier coalfield, KwaZulu-Natal province, South Africa.

Yesterday, Tango announced it had bolstered its  board with the appointment of Samer Khalaf, who has investment banking and global resource industry experience.

The new non-exec director will help the firm drive its ongoing corporate development program , it told investors.

Story by ProactiveInvestors



Source: http://www.proactiveinvestors.com/companies/news/175940/tango-mining-poised-to-raise-225000-in-placing-175940.html

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