TSR Raises US$2 million with RCF
April 13, 2016
Thani Stratex Resources Limited (“Thani Stratex” or “TSRL”), has raised US$2 million of new funding by way of a Subscription Agreement (the “Agreement”) with Resource Capital Fund VI L.P. (‘‘RCF’’).
Christopher Hall, TSRL director commented: “We are pleased that Thani Stratex has now underpinned its future with this new equity financing from RCF which clearly represents a strong vote of confidence in the company, its management and its prospects. Following shortly after the joint-venture funding for drilling in Djibouti, the RCF funds will permit an acceleration of TSRL's efforts in Egypt as well as contributing to funding corporate overheads. We look forward to future news flow from both the Rift Valley and older terrane targets. ”
Following on from a US$1.25 million investment (net of fees) by NurtureEx B.V. earlier this year (Announcement dated 25th February 2016),? additional funding has been raised by Natural Resources Global Capital Partners Ltd through a Subscription Agreement with RCF. Under the terms of the Agreement, 1,000,000 ordinary shares of US$0.20 each in the capital of Thani Stratex (“Ordinary Shares”) have been placed with RCF at a price of US$2.00 each, to raise US$2 million. The new funds will be used principally to advance TSRL’s Egyptian prospects as well as for general ?corporate purposes.
TSRL anticipate commencing a 4,000 metre drilling programme in Djibouti during Q2-2016. The drilling will target the Pandora vein system (“Pandora”) as well as the new Assaleyta prospect located 16 km to the north of Pandora, where recent work has defined disseminated and vein-hosted gold mineralization in rhyolite domes.
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