Peterson Law acts for TriAusMin Limited as it closes $3.6 Million Private Placement
On December 9, 2011 TriAusMin Limited (“TriAusMin”) closed a private placement of 42,115,295 common shares at CDN $0.085 per share for gross proceeds of CDN $3,579,800. Directors of TriAusMin subscribed for 3,941,177 shares representing CDN $335,000 of the financing. Funding from the private placement will be used to fund exploration drilling on the Woodlawn Underground Project to outline additional high-grade base and precious metal resources, to fund the ongoing drilling on the Lewis Ponds Project and to fund the completion of metallurgical test work, front end engineering work and the environmental permitting application for the Woodlawn Tailings Retreatment Project, as well as for general corporate purposes.
TriAusMin is engaged in the exploration and development of base and precious metals deposits located in the Lachlan Fold Belt in New South Wales, Australia. In particular, TriAusMin’s exploration projects include large landholdings at Woodlawn, Lewis Ponds as well as other regional exploration properties.
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