Telson Mining secures initial $2M trance of private placement

Telson Mining Corporation (CVE:TSN) (OTCMKTS:SOHFF) has closed the first nearly $2 million tranche of its previously-announced non-brokered private placement.  The tranche consisted of 19.5 million units, each containing one share and one half a share purchase unit, at a price of $0.10 per unit. A whole share purchase warrant entitles its holder to purchase an additional share at a price of $0.25 within two years of the tranche’s closing. Estratégica Corporativa en Finanzas SAPI de CV, an entity based in Mexico, acquired 5.8 million shares at the $0.10 price and an additional 2.9 million shares at $0.25 via purchase warrants. READ: Telson Mining Corp restarts mining operations at Campo Morado in Mexico The Vancouver-based company originally announced the private placement on December 27. Telson's Tahuehueto mining project, located in Mexico’s north-western Durango state, is currently under construction and approximately 70% complete. Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com  Follow him on Twitter @andrew_kessel