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Tower Resources Raises C$0.64 Million in the Final Tranche of Non-Brokered Private Placement

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Tower Resources (TWR.V) closed the final tranche of a non-brokered private placement raising C$0.64 million, it said in a statement late Tuesday.

The company place 4-million units at C$0.16 apiece in the tranche. Each unit is made up of a share and one-half of a one-year warrant to buy a share for C$0.25.

Certain company directors also participated in the offering and acquired 200,000 units. Proceeds will be used for general working capital and corporate needs, it said.

The company's shares last traded Tuesday, closing at C$0.165 on the TSX Venture Exchange.

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