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News

posted on Oct 07, 08 08:08AM

Tagish Lake accepts $5-million in equity financing

2008-10-07 05:23 ET - News Release

Mr. Gregory Hawkins reports

TAGISH PROPOSED PRIVATE PLACEMENT-UPDATED

Tagish Lake Gold Corp. has accepted an offer of financing from investors to raise a total amount of $5-million. Pursuant to the news in Stockwatch dated Aug. 20, 2008, the original agreement has been amended. There are now three investors and the warrant terms have been amended from the original one-quarter warrant per common share to one-half warrant per common share.

This financing is from the original group, namely Yukon-Shaanxi Mining Company Inc. (YSMC), dated Aug. 20, 2006. There have been two other parties, which are non-related, that wish to participate in this placement.

The terms according to the terms of the subscriptions, the investors will invest $5-million in Tagish, through private placements of 100 million units at five cents per unit. Each unit will consist of one common share plus one-half of one common share warrant, with each full warrant entitling the holder to purchase an additional common share at 7.5 cents per share.

We seek Safe Harbor.

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