Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  TSX VENTURE EXCHANGE  >  Soho Resources Corp    SOH   CA83408M1059

News SummaryMost relevantAll newsSector newsTweets 

Telson Resources Inc : Non-Brokered Private Placement

share with twitter share with LinkedIn share with facebook
share via e-mail
05/02/2013 | 08:22pm CEST
Telson Resources Inc. (TSX.V: TSN, OTCBB: SOHFF) Shares Issued: 32,236,616 TELSON RESOURCES INC. NON-BROKERED PRIVATE PLACEMENT VANCOUVER, BRITISH COLUMBIA - May 02, 2013 - Telson Resources Inc. (TSX Venture - TSN) ("Telson" or the "Company") announces that it intends to conduct a non-brokered private placement of up to 7,000,000 units of the Company. The placement is expected to close in two or more tranches. Each unit is priced at $0.05 per unit, resulting in gross proceeds of up to $350,000 when fully closed. Each unit is comprised of one common share of the Company and one full share purchase warrant. Each share purchase warrant entitles the holder thereof to purchase one additional common share of the Company at $0.10 within one year of its date of issuance.

All securities issued under the non-brokered private placement are subject to a hold period expiring four months and one day after the closing date. Closing of the Private Placement is subject to approval of the TSX Venture Exchange.

Use of Proceeds

Proceeds will be used to fund its Mexican operations supporting its flagship Tahuehueto Project in Durango, Mexico and for
working capital.

Re-Pricing of Stock Options

The Company also announces that it intends to re-price a total of 1,515,625 employee, officers and directors incentive stock options to purchase common shares ("Options") to an amended exercise price of $0.10 per Option (the "Re-Pricing"). The closing price of the Company's common shares on the TSX.V on May 01, 2013 prior to the approval of the Re-Pricing was
$0.045. 1,031,250 Re-priced stock options are held by insiders of the Company, and are subject to disinterested shareholder approval to be voted on at the Company's next annual general meeting.

About Telson Resources Inc.

Telson Resources Inc. is an exploration and development company strategically focused on gold, silver and base metals in the prolific Sierra Madre Belt of Mexico. The Company holds 99.4% of the outstanding shares of its Mexican subsidiary company that maintains 100% ownership in 9,081 hectare Tahuehueto Property, an advanced stage gold and base metal exploration and development project.
Telson also holds an option to purchase 100% interest in the 4,332 hectare Jocuixtita Silver Project in Sinaloa, Mexico where the company has conducted a first stage exploration drilling program, and has recently signed a Letter of Intent for an initial
51% interest in the El Realito Project, a very near term gold and silver production opportunity located in Sinaloa State,

At its flagship Tahuehueto Project in Durango State, Mexico the Company has embarked on a program of pre-feasibility data collection. Past exploration efforts Tahuehueto lead to the delivery, on October 4, 2010, of a Preliminary Economic Assessment ("PEA") completed by Snowden Mining Industry Consultants Inc. Key findings from the report included:

Summary of PEA Estimates

Net cash flow

$US 184.2 million

Net present value (NPV) 5% discount

$US 109.6 million

Internal rate of return %


T e l s o n R e s o u r c e s I n c . N e w s R e l e a s e - M a y 0 2 , 2 0 1 3 P a g e 1

Payback period

27 months

Mine life

11 years

Maximum processing rate

1,000,000 tonnes/annum

Capital and start-up costs

$US 89.1 million

Note: Calculations based on a 3 year rolling average of metal prices at the end of Auguts 2010

Currency US$ Gold: 965.81, Silver: 15.38, Copper: 2.92, Lead: 0.95, Zinc: 0.88

The Tahuehueto Project is a classic epithermal system hosting multiple structures traced for up to six kilometers of strike length. Considerable upside exploration potential remains on the existing explored resource structures both down dip and along strike, as well as on numerous other unexplored mineralized structures known to occur on the property.

Qualified Persons

This press release was prepared under the supervision and review of Ralph Shearing, President and CEO of Telson
Resources Inc., a Licensed Geologist, and Qualified Person as defined by NI 43-101.


(signed) "Ralph Shearing"

Ralph Shearing, Chief Executive Officer

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release

WARNING: The Company relies upon litigation protection for "forward-looking" statements. This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of up-coming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. 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. Telson Resources Inc. relies upon litigation protection for forward-looking statements.


Glen Sandwell, IR Manager

Tel: (604) 684-8071

Email: [email protected]

Toll Free: 1-800-685-0576

T e l s o n R e s o u r c e s I n c . N e w s R e l e a s e - M a y 0 2 , 2 0 1 3 P a g e 2

distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
06/15 TELSON RESOURCES INC. : Announces Closing of the Purchase of the Campo Morado Mi..
06/14 TELSON RESOURCES INC. : Announces Closing of the Purchase of the Campo Morado Mi..
04/28 NYRSTAR : announces sale of Campo Morado mine for a total cash consideration of ..
04/28 IIROC Trade Resumption - Telson Resources Inc.
04/28 TELSON RESOURCES : IIROC Trading Resumption - TSN
04/27 TELSON RESOURCES : Completes Acquisition Agreement with Nyrstar Mining Ltd to Ac..
04/27 IIROC Trade Halt - Telson Resources Inc.
03/28 TELSON RESOURCES : Announces Appointment of Remigio Martinez Muller to the Board..
03/06 TELSON RESOURCES INC : . Secures USD $2 Million Caterpillar Leasing Credit Line ..
More news
Sector news : Integrated Mining
02:44aDJBHP Billiton Approves Initial Funding for Proposed Iron-Ore Project
06/20 Glencore says will respond in due course after Rio favours Yancoal bid
06/20DJANGLO AMERICAN : De Beers' Cycle 5 Rough Diamond Sales Rise 1.5%
06/20DJRIO TINTO : John Varley Resigns as Non-executive Director
06/16DJBHP Billiton Names Ken MacKenzie as New Chairman -- Update
More sector news : Integrated Mining
News from SeekingAlpha
2015 Sanderson Farms - The Good Times Continue, I Am Still Waiting To Pull The Tri..
2015 The $2 Billion Dollar Per Day West Coast Port Problem Nearly Solved
2015 SANDERSON FARMS : Is Inflation Uncertainty Inappropriately Weighing Down The Sto..
2015 How The Chicken Industry Will Squeeze The Shorts
2015 West Coast ports shut down for weekend amid continuing labor conflict
Jose Antonio Berlanga Balderas Chief Executive Officer & Director
Ralph Edward Shearing President, Secretary & Director
Omar Garcia Abrego Chief Financial Officer
Yao Sun Executive Director & VP-Asia Pacific Region
Francisco Arturo Bonillas Zepeda Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
BHP BILLITON PLC-12.48%84 891
RIO TINTO-3.36%72 189
GRUPO MEXICO S.A. DE C..-14.58%20 899
More Results