Edward Farrauto, President and CFO of TLC Ventures Corp. (TLV.TSX Venture Exchange) is very pleased to announce that the Company has closed its previously announced non-brokered private placement financing of 5,000,000 shares at $0.25 per share for net proceeds of $1,250,000. There was no commission or finders fee payable on the financing. All securities issued in connection with the private placement financing are subject to a one-year hold until January 29, 2005. Gold Fields Limited (through a wholly owned subsidiary) and Endeavour Financial were the lead investors in the round. The proceeds of the private placement financing will be used by the Company to investigate opportunities to acquire mineral assets and for general working capital.
TLC Ventures Corp. is a well funded, Vancouver, Canada based mineral exploration company that is focused on the acquisition, advancement and development of gold and base metal assets around the world. The Company has a Strategic Partnership with Gold Fields Limited (through a wholly owned subsidiary) whereby both companies have exclusive, reciprocal rights to conduct a first review of data from mineral projects that either company wishes to sell, option or joint venture. Gold Fields Limited (through a wholly owned subsidiary) is also a significant equity owner in TLC Ventures controlling an approximate 9.5% equity interest in the Company. Endeavour Financial is an advisor to TLC Ventures on project acquisitions and corporate financings. With offices in Vancouver, Georgetown and London, Endeavour is one of the largest investment banking teams dedicated exclusively to the global mining industry. TLC Ventures has 13.7 million shares issued and outstanding with shareholders in Canada, the USA and Europe.