Tigray Resources (TIG-V) spin out of Canaco now called Orca Gold (ORG-V)
www.tigray.ca
55.4 million o/s
Insider own 3%
Sinotech 28%
$0.98 million cash (as of Nov 31, 2012)
Key people
Andrew Lee Smith – President and CEO
Mr. Smith is a Professional Geologist with more than 25 years of experience successfully exploring, developing and operating North American base and precious metals mining projects. He is also President, CEO and a Director of Canaco Resources Inc. and co-founder and Director of True North Gems Inc.
Mr. Smith holds a BSc in Earth Sciences from the University of Waterloo and is a member of the Association of Professional Engineers and Geoscientists of British Columbia. He received the Mining Entrepreneur of the Year Award in 1994 from the Quebec Prospectors Association for his role in mine development with Aurizon, and was named Outstanding Alumnus of 2009 by the Science Faculty of the University of Waterloo for his contributions to mineral exploration.
Jeff Heidema – Vice President Exploration
Mr. Heidema is a Professional Geologist with over 25 years of exploration experience with the Cominco, Teck Cominco and Teck exploration groups. He joined Canaco in the role of Vice President Exploration in January 2011. Mr. Heidema's career has largely focused on exploration project management for programs ranging from grass roots to near mine exploration, and also includes EHS, agreement, and tenure management. He predominantly specializes in VMS and Archean gold exploration. Mr. Heidema is also Vice President Exploration of Canaco Resources Inc.
Iain Groves – Senior Exploration Geologist
Mr. Groves is a professional geologist with 22 years on-ground experience in the mineral exploration industry, specializing in gold, base metals and nickel. He started his career in Western Australia with Western Mining Corporation and Homestake and has held positions of Project Geologist to Exploration Manager for multiple companies and multiple commodities. Mr. Groves has been consulting to the industry for the last seven years, including developing projects in Egypt, Tanzania, Mexico, Brazil, Australia and Greenland for companies such as Norilsk Nickel and AngloGold Ashanti.
Company presentation
tigray.ca
Fact sheet
tigray.ca
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Tigray Resources closes $2.42-million offering, Goldrock Resources eight million; East Africa Metals eight million shares
April 19, 2013 - New Release
Tigray Resources Inc. has closed on its previously announced non-brokered private placement financing of 16.14 million units at a price of 15 cents per unit for gross proceeds of $2,421,000. Each unit comprises one common share and one-half of one non-transferable common share purchase warrant. Each whole warrant allows the holder to purchase one common share of the company at an exercise price of 20 cents for a period of two years from the date of closing. Proceeds from the offering will be used for exploration on the company's Harvest and Adyabo properties in Ethiopia, as well as for working capital purposes.
The common shares and warrants comprising the units, as well as any common shares issuable upon exercise of the warrants, are subject to a hold period expiring on Aug. 20, 2013.
The company did not pay any finder's fees in connection with this placement.
The offering remains subject to final acceptance by the TSX Venture Exchange.
We seek Safe Harbor. |
