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Private Placement
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TORONTO, ONTARIO - Tsodilo Resources Limited (the "Company") (TSX
Venture Exchange: TSD) is pleased to announce that it has negotiated a
non-brokered private placement of 210,519 units of the Company (the
"Units") at a price of CDN $0.70 per common share for proceeds to the
Company of CDN $141,063. Each Unit consists of one common share of the
Company and one a warrant of the Company, each such warrant entitling
the holder to purchase one common share of the Company at a price of
CDN $0.70 for a period of two years. Closing of this transaction is
subject to regulatory approval. Proceeds from this financing will be
added to the Company's working capital.
Tsodilo Resources Limited is an international
Diamond exploration
company engaged in the search for economic kimberlites at its Newdico
(Pty) Limited ("Newdico') and Gcwihaba Resources (Pty) Limited
("Gcwihaba") projects in northwest Botswana. In addition to its
kimberlite exploration program, the Company maintains an active base
and precious metals exploration program through its Gcwihaba
subsidiary.
Tsodilo Resources Limited is an international
Diamond and metals
exploration company engaged in the search for economic kimberlites and
metal deposits at its Newdico (Pty) Limited ("Newdico') and Gcwihaba
Resources (Pty) Limited ("Gcwihaba") projects in northwest Botswana.
The Company has an 95% stake in Newdico (9,400 square kilometers under
Diamond license) while Trans Hex Group, a South African
Diamond mining
and marketing company, holds the remaining 5%. The southern and
northern Gcwihaba project area (6,856 square kilometers under
Diamondlicense and 13,400 square kilometers under base and precious metals
licenses) is 100% held by the Company. Tsodilo manages the exploration
of both the Newdico and Gcwihaba license areas. The Company has offices
in Toronto, Canada and Gaborone and Maun, Botswana. Please visit the
Company's website, www.TsodiloResources.com, for additional information
and background on our projects.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release. This
news release may contain assumptions, estimates, and other
forward-looking statements regarding future events. Such
forward-looking statements involve inherent risks and uncertainties and
are subject to factors, many of which are beyond the Company's control,
which may cause actual results or performance to differ materially from
those currently anticipated in such statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
James M. Bruchs - President and Chief Executive Officer
E-Mail - JBruchs@TsodiloResources.com
Head Office - Telephone +1 416 572 2033 Facsimile + 1 416 987 4369
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Copyright (c) 2009 TSODILO RESOURCES LTD. (TSX-TSD) All rights
reserved. For more information visit our website at
http://www.tsodiloresources.com/ or send
mailto:info@tsodiloresources.com
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