TSX-listed Tsodilo Resources has closed the second and final tranche of its private placement financing for gross proceeds of $150 000.
The company issued 300 000 shares at a price of C$0.50 apiece.
Each common share bought is accompanied by one common share warrant, which entitles the holder thereof to buy one common share at a price of C$0.55 apiece.
The first tranche of the financing exercise closed on January 25, which involved the company placing almost three-million shares for aggregate gross proceeds of $1.4-million.
The company will use the proceeds for general corporate purposes and working capital.
Tsodilo has diamond exploration operations at the Bosoto, Gcwihaba and Newdico projects, in Botswana, as well as at the Idada project, in Barberton, South Africa.