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News Releases
| | January 20, 2009
Private Placement Completed and NI43-101 Technical Report Filed
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| | Triple Dragon Resources Inc. (the "Company") announces that it has completed the second and final tranche of its private placement of units. A total of 2,000,000 units were sold at a price of $0.15 per unit, raising proceeds of $300,000. Of the units, 1,000,000 were sold as flow-through units, consisting of one flow-through common share and one share purchase warrant.
The second tranche of the private placement consisted of 1,000,000 units, each unit consisting of one common share and one share purchase warrant, exercisable at a price of $0.25 per share until January 20, 2010. The common shares comprising the units bear a four month hold period, expiring May 20, 2009. A finder's fee of $1,500 was paid to Union Securities Ltd.
Proceeds from the private placement will be used towards the 2009 exploration program on the Murray Property and for general working capital.
The Company is also pleased to announce that it has received a geological report in accordance with National Instrument 43-101 with respect to the Murray Property. The "Technical Report on the Murray Property", dated November 28, 2008, was prepared for the Company by Jocelyn Klarenbach, P. Geol., of Dahrouge Geological Consulting Ltd. and is available on the Company's website, CNSX's Disclosure Hall and SEDAR.
On Behalf of the Board of Directors
TRIPLE DRAGON RESOURCES INC.
David Hodge
President and Director
Tel: 604 681 1568
The CNSX does not accept responsibility for the
adequacy or accuracy of this news release.
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this release include statements regarding the 2009 exploration program on the Murray Property.
It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include, but are not limited to, economic, competitive, governmental, environmental and technological factors that may affect the Company's operations, markets, products and prices. Factors that could cause actual results to differ materially may include: misinterpretation of data; that we may not be able to get equipment or labour as we need it; that we may not be able to raise sufficient funds to complete our intended exploration and development; that our applications to drill may be denied; that weather, logistical problems or hazards may prevent us from exploration; that equipment may not work as well as expected; that analysis of data may not be possible accurately and at depth; that results which we or others have found in any particular location are not necessarily indicative of larger areas of our property; that we may not complete environmental programs in a timely manner or at all; market prices may not justify commercial production costs; and that despite encouraging data there may be no commercially exploitable mineralization on our properties. Readers should refer to the risk disclosures outlined in the Company's Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission. |
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