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Gold/Mining/Energy : Tahera Corp (TAH)

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To: Gord Bolton who wrote (19)5/8/1999 3:31:00 PM
From: Ron Schier  Read Replies (1) of 239
 
Tahera Corporation announces a $2 million private placement

Commencement of feasibility study on the Jericho Diamond Project

TAHERA CORPORATION
(TSE: TAH)

TORONTO, May 7 /CNW/ - Tahera Corporation (''Tahera'') is pleased to
announce that it has entered into an agreement with Dundee Securities
Corporation (''Dundee''), as Agent, for a private placement of up to 10
million flow through or common shares at $0.20 per share. As a placement fee,
Dundee will receive 500,000 warrants, exercisable for an equal number of
common shares until May 3, 2001 at $0.23 per share. Closing of the financing
is subject to regulatory approval. In addition, Dundee Securities Corporation
has been appointed as Tahera's financial advisor.
Tahera is commencing a feasibility study for the development of its
wholly owned Jericho Diamond Project in Nunavut. The proceeds of the issue
will be used to fund part of the feasibility study, as well as exploration and
development activities, and for general corporate purposes.

%SEDAR: 00003313E

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