|By Marketwired .||
|December 28, 2012 04:11 PM EST||
LAVAL, CANADA -- (Marketwire) -- 12/28/12 -- Typhoon Exploration Inc. ("Typhoon") (TSX VENTURE:TYP) is pleased to announce that it has completed a non-brokered Private Placement for aggregate proceeds of $146,000. The Offering is comprised of 1,460,000 flow-through common shares at a price of $0.10 per share and 1,460,000 subscription warrants. Each warrant will entitle its holder to subscribe for one (1) common share of Typhoon at the price of $0.12 per share for a period of 36 months following the closing date, that is to say until December 28, 2015. The securities issued under this Offering will be subject to a four-month-and-one-day hold period expiring on April 29, 2013 pursuant to applicable securities legislation and the rules of TSX Venture Exchange. Typhoon's directors subscribed for 34% of the securities in this placement.
The proceeds of the Offering will be used to finance exploration work on its properties.
Typhoon target Quebec's excellent mineral potential for the development of new world-class deposits and can count on its 2197 investors which contribute greatly to the success of the Company.
The common shares of Typhoon are listed on the TSX Venture Exchange under the symbol "TYP".
This news release contains statements that constitute "forward-looking information" or "forward-looking statements" within the meaning of applicable securities legislation. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of Typhoon. Actual results or achievements may differ materially from those expressed in, or implied by, this forward-looking information. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits that Typhoon will derive therefrom. Forward-looking information is based on the estimates and opinions of Typhoon at the time the information is released and Typhoon does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. Neither 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.
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