Tsodilo to raise C$440 000 for Botswana project

International diamond and metals exploration company Tsodilo Resources has negotiated a non-brokered private placement of 2.2-million units of the company, which will provide gross proceeds of C$440 188.20.

Proceeds from the private placement will be used for the advancement of the Xaudum iron formation project, in Botswana, and for general corporate purposes and working capital.

A director of the company subscribed for 100 000 units. As a result, the private placement is a related party transaction.

Closing of the private placement is subject to, among other things, receipt by the company of TSX-V approval.