Vancouver, Canada (ots/PRNewswire) -
Tan Range Exploration Corporation (TSX: TNX) advises that Mr.
Sinclair, Chairman and CEO, and Guild Investment Management, Inc.
have each subscribed for a placement of common shares of the Company
for an aggregate US$2.5 million. Under the Subscription Agreements,
Mr. Sinclair has agreed to subscribe for 183,440 common shares at a
price of CAN$7.844 per share. Mr. Sinclair's subscription price is
not discounted and represents the five- day weighted average trading
price of the common shares on the Toronto Stock Exchange for the
period ended January 24, 2006. Guild Investment Management, Inc. has
agreed to subscribe for 215,820 common shares at a price of CAN$6.667
per share, representing the five-day weighted average trading price
of the common shares on the Toronto Stock Exchange for the period
ended January 24, 2006 less a discount of fifteen (15%) percent. The
funds will be utilized to expand the Company's drilling equipment and
for working capital.
The private placement common shares are subject to certain
mandated hold periods and resale restrictions and the certificates
representing such shares are legended accordingly. No warrants,
options or other rights have been issued or granted in connection
with this placement.
The proposed private placements are subject to regulatory
"James E. Sinclair"
James E. Sinclair
Chairman and Chief Executive Officer
The Toronto Stock Exchange nor American Stock Exchange have not
reviewed and does not accept responsibility for the adequacy or
accuracy of this release
Cautionary Note to U.S. Investors - The United States Securities
and Exchange Commission permits U.S. mining companies, in their
filings with the SEC, to disclose only those mineral deposits that a
company can economically and legally extract or produce. We use
certain terms on this news release, such as "measured", "indicated",
and "inferred" "resources" that the SEC guidelines strictly prohibit
U.S. registered companies from including in their filings with the
SEC. U.S. Investors are urged to consider closely the disclosure in
our Form 20-F, File No. 0-50634, which may be secured from us, or
from the SEC's website at http://www.sec.gov/edgar.shtml.
Visit the Tan Range website: www.tanrange.com
ots Originaltext: Tan Range Exploration Corporation
Im Internet recherchierbar: http://www.presseportal.ch
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