Telferscot Resources completes $100K financing

pcNewsWire – Telferscot Resources Inc. (CSE: TFS) has closed previously announced non-brokered private placement of 10 million common shares at $0.01 per share for gross proceeds of $100,000.

Press Release

Telferscot Resources Closes Private Placement

TORONTO, ONTARIO–(Marketwired – May 11, 2017) – Telferscot Resources Inc. (CSE:TFS)(CSE:TFS.CN)(CSNX:TFS) (“Telferscot” or the “Company”) is pleased to announce that it has closed the non-brokered private placement previously announced on April 25, 2017. A total of 10 million common shares were issued at a price of CAD$0.01 per share for gross proceeds of C$100,000.

The Company is currently involved in discussions for either a joint venture or earn-in agreement with a U.K. based group on exploration and near-term production assets in Africa.

Regarding the termination of the previous planned transaction with Auxico Resources: the Company continues to pursue Auxico to meet its obligations under the terms of the transaction. As such the Company has begun legal proceedings against Auxico for payment of the transaction termination fee.

Telferscot will continue to provide updates to the markets as progress develops.

Contact Information

Telferscot Resources Inc.
Stephen Coates

Telferscot Resources Inc.
Catherine Beckett
Manager Corporate Affairs