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Gold/Mining/Energy : Tan Range -- Ignore unavailable to you. Want to Upgrade?

To: Martin Archer who wrote (48)	2/17/1998 8:52:00 PM
From: Martin Archer	Read Replies (1) \| Respond to of 122

TAN RANGE ANNOUNCES PRIVATE PLACEMENT OF SPECIAL WARRANTS TAN RANGE ANNOUNCES PRIVATE PLACEMENT OF SPECIAL WARRANTS VANCOUVER, Feb. 17 /CNW/ - Tan Range Exploration Corporation Alberta Stock Exchange Symbol: TNX Tan Range Exploration Corporation (''Tan Range'') announces that it has retained C.M. Oliver & Company Limited (the ''Agent'') to act as agent on a best efforts basis for its proposed private placement offering of up to 2,353,000 Special Warrants (the ''Special Warrants'') at a price of $0.85 per Special Warrant (the ''Offering Price'') to raise up to $2,000,050 (the ''Offering''). Each Special Warrant will be convertible at no additional cost into one Unit of Tan Range, with each Unit consisting of one common share and one share purchase warrant. Each whole share purchase warrant will entitle the holder to purchase one additional common share of Tan Range at a price of $0.93 during the 12 month period subsequent to the completion of the Offering (the ''Closing''), and at a price of $1.20 per share during the 13th to 24th month period following the Closing. The agent will solicit subscriptions from subscribers resident in British Columbia, Ontario, Alberta (the ''Qualifying Jurisdictions'') and, with the consent of Tan Range, elsewhere (the ''Subscribers''). The closing of the Offering (the ''Closing'') will occur on a date to be agreed by Tan Range and the Agent, provided that the Agent will be granted a minimum selling period of 30 days. Tan Range will be required to obtain a receipt for a final Prospectus (the ''Prospectus'') within 140 days from Closing. If all deficiencies are not cleared and the Prospectus is not receipted in all the Qualifying Jurisdictions within 140 days of Closing (the ''Qualification Deadline''), then each Special Warrant will entitle the holder thereof to acquire, at no additional cost to the holder, 1.1 common shares and 1.1 share purchase warrants. If Tan Range files the Prospectus to include a public offering of securities to raise additional financing (in addition to qualifying the Special Warrants hereunder) and Tan Range applies for listing of its common shares on The Toronto Stock Exchange within 140 days of the Closing, then the Qualification Deadline shall be extended to 180 days from the Closing before the Qualification Penalty applies. The Agent will have a right to participate in any future financing of Tan Range that is contemplated or announced within a one year period from the Closing. One-third of the gross proceeds of the Offering will be held by an acceptable escrow agent and released to Tan Range upon the earlier of payment of the Qualification Penalty or receipt of the Prospectus in the Qualifying Jurisdictions. Tan Range has agreed not to issue or announce the issuance of any common shares or other securities, other than for (i) business acquisitions, or (ii) pursuant to options, warrants, or other agreements or instruments existing at the date of this agreement, for a period of four months following the completion of the Offering, unless the issue or striking price is equal to or greater than the Offering Price. In consideration of the Agent's efforts in placing the Offering, Tan Range will pay to the Agent a commission of 8.0% of the gross proceeds from the Offering in cash, which the Agent shall deduct from the gross proceeds on Closing. Tan Range shall also pay a non-refundable work fee of $10,000 plus GST. In addition, Tan Range will grant to the Agent an option (the ''Agent's Option'') to acquire warrants (the ''Agent's Warrants'') granting the Agent the right and option to purchase that number of shares of the issuer which is 10% of the number of Special Warrants sold on the Offering. The Agent's Warrants will be exercisable in whole or in part during the 12 month period following the Closing at $0.93 per share, and during the 13th to 24th month following the Closing at $1.20 per share. The Agent's commission and the Agent's Option as well as the terms of the proposed Offering have been negotiated with the Agent at arm's length. The net proceeds from this financing will be used to fund drilling and other exploration work on Tan Range's mineral properties in East Africa and to meet the costs of corporate administration. Completion and Closing of the Offering is subject to a number of conditions including completion of all necessary documentation, including a formal Agency Agreement, to the conduct of due diligence by the Agent, to the approval of the Board of Directors and shareholders of Tan Range, if required, and to the approval of the Alberta Stock Exchange, for which application is being made contemporaneously. TAN RANGE EXPLORATION CORPORATION ''Marek Kreczmer'' MAREK J. KRECZMER, M.Sc., P.Eng. President and Chief Executive Officer The Alberta Stock Exchange has neither approved nor disapproved of the information contained herein. %SEDAR: 00008194E -30- For further information: Investor Relations at 1-800-811-3855 TAN RANGE EXPLORATION CORPORATION has 21 releases in this database.

To: Martin Archer who wrote (48)	4/20/1998 5:31:00 PM
From: Ron Everest	Read Replies (1) \| Respond to of 122

Martin, Gold Newsletter has an article summarizing current events at TNX. We already know much of this material but will summarize the article. - Drilling to begin mid April, was delayed by heavy rains. - Management expects results this drill pgm to be similiar to the first 13 drill holes. - Recent financing postponed in anticipation of a higher price. - JCI departure. JCI was dead set on getting out of the gold business altogether. - New JV with Minorca. Initial financing of C$1 million to TNX on signing and Minorca to receive options to earn up to 50% for C$10 million in cash and funding of a bankable feasibility study. Minorca recently completed their due diligence after a site visit, technical and title reviews. Agreement is expected to close by mid April. - Geology looks outstanding so far. IP surveys indicate gold zone of 2,200 meters in length. If results are similiar to first 13 dd holes they will have proven up a multi-million-ounce deposit. - Contract awarded for 10 k meters of drilling for the next 12 months. - Results likely by May - Current price level is short term bargain. - Shares O/S 34.8 million - Diluted 42.3 million Comments? Best regards, Ron E