For Immediate Release - Vancouver, Canada: Dr. Richard W. Henley, FAICD, Chairman of the Board of TLC Ventures Corp. (TLV.TSX Venture Exchange) is very pleased to announce the appointment of Mr. Jeff Franzen, M.Sc., P.Eng. to the Board of Directors of the Company effective immediately. Mr. Franzen has over thirty years experience in mineral exploration, mine development and operations, and he is a registered professional engineer in the Province of British Columbia. He holds a B.Sc., (Honours Geology) from the University of British Columbia and a M.Sc. (Structural Geology) from Carleton University. In addition to his open pit and underground operations expertise, Mr. Franzen has been associated with five development-stage mining projects that were subsequently sold to third parties including: North American Metals Corp. (1986-1988), Continental Gold Corp. (1988-1990), El Condor Resources Limited (1990-1992), Francisco Gold Corp. (1997) and Mar-West Resources Ltd. (1998). Mr.Franzen is President of Franzen Mineral Engineering Limited, an independent mining consultancy.
Dr. Henley stated: “We are very pleased to welcome Jeff Franzen to the TLC Ventures Board of Directors. Jeff is highly regarded in the exploration and mining industry, and is particularily well known for his ability to manage advanced exploration and development-stage projects.”
In conjunction with the appointment of Mr. Franzen to the TLC Venture Board of Directors, the Company announces a non-brokered $375,000 private placement financing. The private placement will consist of 300,000 Units at $1.25 per Unit for gross proceeds of $375,000. Each unit consists of one common share and one full common share purchase warrant. One warrant will allow the holder to purchase one common share in TLC Ventures for a period of 24 months from closing at a price of $1.50 per share. No commission or finders fee will be paid in conjunction with this financing. Mr. Franzen is the sole placee in the private placement.
The Company has granted 200,000 stock options to Mr. Franzen at an exercise price of $1.35 valid for a period of five years from the date of grant. The stock options and financing are subject to regulatory approval.
TLC Ventures is an exploration and mine development Company, focused on the acquisition, advancement and development of global precious and base metal assets. The Company controls a 100% interest in the Point Leamington gold-rich massive sulphide deposit in Newfoundland, Canada. Gold Fields (through a wholly-owned subsidiary) is a significant equity owner in TLC Ventures controlling an approximate 9.5% equity interest in the Company.
TLC Ventures Corp.
Signed ‘Richard W. Henley’
Dr. Richard W. Henley, FAICD
For more information contact TLC Ventures Corp. Tel: 604 681 9944. E-Mail: firstname.lastname@example.org
TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this release.
The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.