TORONTO, ONTARIO--(Marketwire -07/11/12)- Tawsho Mining Inc. (TAW.V) ("Tawsho" or the "Corporation") announces it has completed a non-brokered flow-through private placement offering to arm's-length and non-arm's-length parties (the "Offering"), as announced in a previous news release dated May 17, 2012. Tawsho issued 2,229,500 flow-through units at a price of $0.25 per unit, raising gross proceeds of $557,375. Each flow-through unit consists of one flow-through common share and one common share purchase warrant. Each warrant entitles the holder to purchase one non-flow-through common share of Tawsho at a price of $0.30 per share for a period of two years from the date of issuance.
Insiders of the Corporation subscribed for 65% of the Offering. No finder's fees were paid by the Corporation in respect of the Offering. All securities issued to purchasers under the Offering are subject to a four-month hold period expiring November 6, 2012, as required under applicable securities legislation and the policies of the TSX Venture Exchange.
The proceeds of the Offering will be used for the exploration and development of Tawsho's properties in Newfoundland and Quebec, and for general working capital.
About Tawsho Mining Inc.
Tawsho is a mining exploration company focused on the acquisition, exploration and development of gold resources and advanced stage gold exploration projects. The Corporation is presently developing its Chevrier project (comprised of 557 claims, covering an area of 9,542 hectares, or 95.4 sq.km) in the Chibougamau region of Quebec and its Whisker Valley project (comprised of 913 claims, covering an area of 21,875 hectares, or 218.8 sq. km) and the Cabot Property (comprised of 100 claims, covering an area of 2,500 hactares, or 25 sq. km) in BaieVert, Newfoundland.
Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.