News
TRIBUNE ANNOUCNES $475,000 PRIVATE PLACEMENT AND NEW DIRECTOR
September 24, 2009
Tribune Minerals Corp. (TSX-V: TCB) (the “Company”) (“Tribune”) is pleased to announce a non-brokered private placement of up to 2,500,000 units (the “Units”) at a price of $0.19 per unit, for gross proceeds of up to $475,000 (the “Offering”).
Up to 1,500,000 Units are allocated to insiders of Tribune.
No finder’s fee will be paid in connection with the placement of the Units.
Each Unit will consist of one common share and one non-transferable share purchase warrant exercisable at a price of $0.22 for two years from the closing date of the Offering. (the “Closing Date”). All securities issued pursuant to this financing are subject to a 4month hold period from the Closing Date. The Offering is subject to approval from the TSX Venture Exchange and any other regulatory approvals.
Proceeds of this private placement will be used towards potential acquisitions and for general working capital.
Tribune is also pleased to announce that Luke Norman has joined the Board of Directors of Tribune and has been appointed as President and CEO. Andrew Bowering will remain as Chairman of the Board.
Mr. Norman has been a consultant for early stage public companies for over ten years, primarily in the precious metals exploration sector. Mr. Norman has been instrumental in raising over $90 million for start-up and publicly traded companies.
Further, Tribune announces the termination of the option agreement with Athabasca Developments Corp. (“Athabasca”) whereby Tribune had the right to acquire a 90% interest in five exploration properties in Saskatchewan (the “Properties”). The Properties encompassed approximately 11,000 hectares along the Wollaston domain and 10,190 hectares in the Virgin Lake area.
Athabasca Developments Corp was in breach of the option agreement. Both parties have mutually released one another.
To find out more about Tribune Minerals Corp., please contact investor relations at 604-662-8183 or email investor@tribuneminerals.com.
TRIBUNE MINERALS CORP.
“Andrew Bowering”
Andrew Bowering
Chairman
“Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”
“This news release may contain forward–looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.”
