pcNewsWire – Portofino Resources Inc. (TSX-V: POR) has completed second and final tranche of its previously announced non-brokered private placement, issuing 2,460,000 units at $0.05 per unit for gross proceeds of $123,000.
Proceeds will be used for project exploration, due diligence on proposed Argentine Lithium projects, and for general corporate purposes.
PORTOFINO CLOSES SECOND TRANCHE PRIVATE PLACEMENT
Vancouver, B.C., May 26, 2017. PORTOFINO RESOURCES INC. (POR: TSX-V) (“Portofino” or the “Company”) is pleased to announce that it has closed a second and final tranche of its previously announced (March 29) non-brokered private placement for proceeds of $123,000 priced at $.05/Unit. Each Unit consists of one common share and one 2-year common share purchase warrant exercisable at $.08. The Company has issued 2,460,000 shares which will be subject to a hold period expiring in September 2017. Finders fees consisting of $3,850 and 77,000 broker warrants (having the same terms as the placees) have been paid. Gross proceeds from both tranches totalled $584,000.
Proceeds from this financing shall be used by the Company for project exploration, due diligence on proposed Argentine Lithium projects, and for general corporate purposes.
About Portofino Resources Inc.
Portofino is a Vancouver, Canada based Company focused on acquiring, exploring and developing mineral resource projects in the Americas.
On Behalf of the Board,
“David G. Tafel”
Chief Executive Officer
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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.