Toachi Mining (TIM-V) Ecuador play
toachimining.com
18.9 million o/s
Insiders 16%
Metaform Investments 45.7%
Cash <$500,000 (as of Jan 31, '16)
People
Jonathan Goodman - Chairman
Jonathan Goodman, the President of Metaform Investments Inc. and Executive Chairman of Dundee Precious Metals Inc., is one of Canada’s best known mining resource investors, bringing more than 30 years of diverse financial and technical experience to Toachi Mining’s board.Mr. Goodman graduated from the Colorado School of Mines as a Professional Engineer and holds a Master of Business Administration from the University of Toronto. He is also a Chartered Financial Analyst and is a director of several other publicly-traded resource companies.
Laurence Curtis - Director
Laurie Curtis is one of Canada’s most respected economic geologists with more than 40 years of global mining experience. A geologist, entrepreneur, analyst and mine builder, Laurie has was the founder and first CEO of Intrepid Mines, building that company to a market capitalization of more than $1 billion.
Laurie completed graduate studies at the University of Toronto.
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Latest News Releases
June 15, '16 - NR
Toachi Mining Inc. has closed its previously announced brokered private placement financing with Beacon Securities Ltd., as the lead agent and sole bookrunner, together with a syndicate of agents including Primary Capital Inc. and Dundee Securities Ltd. Pursuant to the brokered financing, the company issued an aggregate of 17.15 million units at an issue price of 20 cents per unit for aggregate gross proceeds of $3.43-million, including the partial exercise of the agents' option to increase the offering in the amount of $130,000.
Each unit comprises one common share of the company and one-half of a common share purchase warrant. Each whole warrant is exercisable into one common share at a price per common share of 30 cents until June 15, 2018.
Additionally, concurrent with closing of the brokered financing, the company closed a non-brokered private placement of units whereby the company issued an aggregate of 2.25 million units at an issue price of 20 cents for aggregate gross proceeds of $450,000. Pursuant to the financings, the company issued an aggregate of 19.4 million units for aggregate gross proceeds of $3.88-million.
On closing of the financings, the company paid to the agents a cash fee equal to 7 per cent of the gross proceeds raised through the brokered financing and issued to the agents compensation options equal to 7 per cent of the units issued pursuant brokered financing. Each agent's option is exercisable into one common share at a price of 20 cents per common share until June 15, 2018. The company also paid to the agents a corporate finance fee of $31,500 and 157,500 agents' options.
All securities issued in connection with the financings are subject to a four-month hold period plus one day in accordance with applicable Canadian securities laws, commencing on the closing date of the financings.
The net proceeds from the offering are intended to be used to advance the company's La Plata gold-copper-silver-zinc volcanogenic massive sulphide property in Ecuador, and for working capital and general corporate purposes. For additional information on the La Plata project, please visit Toachi's website or SEDAR.
About Toachi Mining Inc.
Toachi Mining brings a disciplined and veteran team of project managers together with a high grade gold-copper-silver-zinc project at La Plata in Ecuador. Toachi Mining is focused on and committed to the development of advanced stage mineral projects throughout the Americas using industry best practices combined with a strong social license from local communities. Toachi Mining has 18,849,937 shares issued and outstanding.
FOR ADDITIONAL INFORMATION PLEASE CONTACT
Nick Tintor, President and CEO Telephone: 416 987 0855 Email: ntintor@rgmi.ca
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June 3rd 2016 - NR
Toachi Mining Announces Further Increase to Financing
Toachi Mining Inc., due to strong demand, is further increasing the size of its previously announced private placement from $3-million to $3.4-million. The offering is being conducted by a syndicate of agents led by Beacon Securities Ltd., and including Primary Capital Inc. and Dundee Securities Ltd. The agents have been granted an option to increase the size of the offering by up to an additional 2.5 million units. In the event the agents' option is exercised in full, the aggregate gross proceeds to the company will be up to $3.9-million. All other terms of the offering remain the same.
The net proceeds from the offering are intended to be used to advance the company's La Plata gold-copper-silver-zinc volcanogenic massive sulphide property in Ecuador, and for working capital and general corporate purposes. For additional information on the La Plata project, please visit Toachi's website or SEDAR.
FOR ADDITIONAL INFORMATION PLEASE CONTACT
Nick Tintor, President and CEO Telephone: 416 987 0855 Email: ntintor@rgmi.ca
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May 20, '16 - NR
Toachi Mining Increases Previously Announced Private Placement Financing
Toachi Mining Inc. has amended the terms of its previously announced private placement offering of units of the company, announced on May 17, 2016. Under the amended terms of the offering, Toachi and Beacon Securities Ltd., as lead agent and bookrunner, on its own behalf and on behalf of a syndicate of agents to be formed, have agreed that up to 15 million units will be offered on a commercially reasonable best efforts agency basis pursuant to private placement exemptions from prospectus requirements of applicable securities laws at a price of 20 cents per unit for gross proceeds to the company of up to $3-million.
Each unit will comprise one common share of the company and one-half of one common share purchase warrant. Each warrant shall entitle the holder thereof to acquire one common share at a price per common share of 30 cents for a period of 24 months following the closing date.
The agents have also been granted an option to increase the size of the offering by up to an additional 2.5 million units, exercisable in whole or in part by Beacon on behalf of the agents at any time up to 48 hours prior to the closing date. In the event the agents' option is exercised in full, the aggregate gross proceeds to the company will be up to $3.5-million.
The net proceeds from the offering are intended to be used to advance the company's La Plata gold-copper-silver-zinc volcanogenic massive sulphide property in Ecuador, and for working capital and general corporate purposes. For additional information on the La Plata project, please visit Toachi's website or SEDAR.
Closing of the offering is expected to occur on or about the week of June 6, 2016, and is subject to receipt of all necessary regulatory approvals, including approval of the TSX Venture Exchange. All securities issued in connection with the offering will be subject to a four-month hold period plus one day in accordance with applicable Canadian securities laws, commencing on the closing date of the offering.
FOR ADDITIONAL INFORMATION PLEASE CONTACT
Nick Tintor, President and CEO Telephone: 416 987 0855 Email: ntintor@rgmi.ca
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May 17, '16 - NR
Toachi Mining Announces $2 Million Private Placement Financing
Toachi Mining is pleased to announce that it has entered into an agreement to complete a private placement offering (the "Offering") of units (the "Units") of the Company. Toachi and Beacon Securities Limited ("Beacon"), as lead agent and bookrunner, on its own behalf and on behalf of a syndicate of agents to be formed (the "Agents"), have agreed that up to 10,000,000 Units will be offered on a commercially-reasonable best efforts agency basis pursuant to private placement exemptions from prospectus requirements of applicable securities laws at a price of $0.20 per Unit for gross proceeds to the Company of up to $2,000,000.
Each Unit will be comprised of one common share (a "Common Share") of the Company and one-half of a common share purchase warrant (each full common share purchase warrant being, a "Warrant"). Each Warrant shall entitle the holder thereof to acquire one Common Share at a price per Common Share of $0.30 for a period of 24 months following the closing date.
The Agents have also been granted an option (the "Agents’ Option") to increase the size of the Offering by up to an additional 2,500,000 Units, exercisable in whole or in part by Beacon on behalf of the Agents at any time up to 48 hours prior to the closing date. In the event the Agents’ Option is exercised in full, the aggregate gross proceeds to the Company will be up to $2,500,000.
The net proceeds from the Offering are intended to be used to advance the Company’s La Plata gold-copper-silver-zinc volcanogenic massive sulphide property in Ecuador and for working capital and general corporate purposes. For additional information on the La Plata project, please visit our website at www.toachimining.com or www.sedar.com .
FOR ADDITIONAL INFORMATION PLEASE CONTACT
Nick Tintor, President and CEO Telephone: 416 987 0855 Email: ntintor@rgmi.ca
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Company Presentation toachimining.com |
