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Re: News Release - Wednesday, August 05, 2009
Tsodilo Resources Limited
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TORONTO, ONTARIO - Tsodilo Resources Limited (the "Company") (TSX
Venture Exchange: TSD) is pleased to announce the closing of the
private placement previously announced on August 3, 2009.
In a non-brokered private placement, 210,519 units of the Company (the
"Units") were issued at a price of CDN $0.70 per Unit for proceeds to
the Company of CDN $141,063. Each Unit consists of one common share of
the Company and one 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. The common shares, warrants and
warrant shares are subject to a negotiated hold period of twelve (12)
months, expiring on August 5, 2010 and the certificates evidencing such
securities will bear a legend to that effect. Proceeds from this
financing will be added to the Company's working capital.
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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