SYS-CON MEDIA Authors: Pat Romanski, Elizabeth White, Glenn Rossman, Cynthia Dunlop, Peter Silva

News Feed Item

Teslin River Announces Consolidation and Private Placement

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/13/12 -- Teslin River Resources Corp. (TSX VENTURE:TLR) ("Teslin" or the "Company") announces that the Company is proposing to undertake a consolidation (the "Consolidation") of its share capital on the basis of up to five (5) old common shares for one (1) new common share. The proposed Consolidation was approved by the Company's shareholders at the annual meeting held on June 28, 2012, and is subject to the approval of the TSX Venture Exchange.

As of the date hereof, the Company has 55,609,061 common shares issued and outstanding. After giving effect to the Consolidation, the Company would have approximately 11,121,812 common shares issued and outstanding. The Company does not propose to change the corporate name of the Company in conjunction with the Consolidation.

The Company believes that the Consolidation is necessary so that the Company will be better positioned to access the equity markets in order to raise the capital required for the Company to continue exploration work on its properties.

Private Placement

The Company is also pleased to announce that it has arranged a non-brokered private placement of up to 10,000,000 units ("Units") and 10,000,000 flow through units ("FT Units") of the Company (on a post-Consolidation basis) at a price of $0.10 per unit (the "Offering") to raise gross proceeds of up to $2.0 million. Each Unit will consist of one common share in the Company ("Share") and one common share purchase warrant (a "Warrant"). Each FT Unit will consist of one flow through common share and one half of one Warrant. Each whole Warrant will entitle the holder to purchase one common share of the Company at a price of $0.15 per common share for a period of 12 months following the closing date, provided that if the closing price of the Company's shares on the TSX Venture Exchange exceeds $0.25 per share for a period of 15 consecutive trading days which ends more than four months and one day following the last closing date under the offering and which includes the date of giving the acceleration notice referred to in this sentence, at the Company's election, the period within which the Warrants are exercisable will be reduced to 30 days from the date on which the Company gives notice accelerating the term of the Warrants.

The Company may pay finder's fees in connection with the offering. The Offering is subject to the approval of the TSX Venture Exchange.

The Company anticipates closing of the Offering and Consolidation as soon as practicable, subject to receipt of all necessary regulatory approvals.

The net proceeds from the Offering will be used to fund the Company's exploration activities at the Frasergold property, other mineral properties, including its Morningstar property, and for general working capital.

Sale of Mustang Property

In other news, the Company reports that it has concluded an agreement with Miranda Gold Corp. ("Miranda") to sell to Miranda all of the Company's interests in and to the Mustang property, located in Nevada in consideration of the payment of $40,000 in cash, the grant of a 1% net smelter royalty to the Company in respect of the Mustang property and the forfeiture and cancellation by Miranda of 300,000 common shares of the Company held by Miranda.

About Teslin River Resources Corp.

Teslin River is an exploration company with interests in Nevada and British Columbia. The Company focuses on precious metals exploration with properties currently being explored in both Nevada and British Columbia. Existing properties include the Frasergold Project and Rand properties in British Columbia and the Morningstar property in Nevada.

ON BEHALF OF TESLIN RIVER RESOURCES CORP.

John Icke, Executive Chairman and Interim President and CEO

For further information please visit www.teslin-river.com.

Forward-Looking Statements

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors identified in the Company's periodic filings with Canadian Securities Regulators. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drill results and other exploration data, the potential for delays in exploration or development activities, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties with or interruptions in production and operations, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, regulatory restrictions, including environmental regulatory restrictions and liability, competition, loss of key employees, and other related risks and uncertainties. The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of any offer to buy nor will there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such province, state or jurisdiction.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an In...
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud...
In her General Session at 15th Cloud Expo, Anne Plese, Senior Consultant, Cloud Product Marketing, at Verizon Enterprise, will focus on finding the right mix of renting vs. buying Oracle capacity to scale to meet business demands, and offer validated Oracle database TCO models for Oracle development and testing environments. Anne Plese is a marketing and technology enthusiast/realist with over 19...
StackIQ offers a comprehensive software suite that automates the deployment, provisioning, and management of Big Infrastructure. With StackIQ’s software, you can spin up fully configured big data clusters, quickly and consistently — from bare-metal up to the applications layer — and manage them efficiently. Our software’s modular architecture allows customers to integrate nearly any application wi...
As Platform as a Service (PaaS) matures as a category, developers should have the ability to use the programming language of their choice to build applications and have access to a wide array of services. Bluemix is IBM's open cloud development platform that enables users to easily build cloud-based, creative mobile and web applications without having to spend large amounts of time and resources o...
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at Internet of @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, will discuss how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will nee...
When you set off to build an app that will change the world, designing your system architecture to be reliable and scalable is important but the stark reality is that, for your MVP, you probably had a “need for speed” (of development). You didn’t know what all the axes were to scale your application, where your stress points would be, and what weird and wonderful ways your customers would use it d...
Compute virtualization has been transformational, yet security policy implementation and enforcement has lagged behind in agility and automation. There are a number of key considerations when implementing policy in private and hybrid clouds. In his session at 15th Cloud Expo, Holland Barry, VP of Technology at Catbird, will discuss the impact of this new paradigm and what organizations can do to...
Samsung VP Jacopo Lenzi, who headed the company's recent SmartThings acquisition under the auspices of Samsung's Open Innovaction Center (OIC), answered a few questions we had about the deal. This interview was in conjunction with our interview with SmartThings CEO Alex Hawkinson. IoT Journal: SmartThings was developed in an open, standards-agnostic platform, and will now be part of Samsung's Ope...
SYS-CON Events announced today that Red Hat, the world's leading provider of open source solutions, will exhibit at Internet of @ThingsExpo, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Red Hat is the world's leading provider of open source software solutions, using a community-powered approach to reliable and high-performing cloud, Linux, ...
Founded in 1997, ActiveState is a global leader providing software application development and management solutions. The Company's products include: Stackato, a commercially supported Platform-as-a-Service (PaaS) that harnesses open source technologies such as Cloud Foundry and Docker; dynamic language distributions ActivePerl, ActivePython and ActiveTcl; and developer tools such as the popular Ko...
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implicati...
SYS-CON Events announced today that Matrix.org has been named “Silver Sponsor” of Internet of @ThingsExpo, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Matrix is an ambitious new open standard for open, distributed, real-time communication over IP. It defines a new approach for interoperable Instant Messaging and VoIP based on pragmatic HTT...
BSQUARE is a global leader of embedded software solutions. We enable smart connected systems at the device level and beyond that millions use every day and provide actionable data solutions for the growing Internet of Things (IoT) market. We empower our world-class customers with our products, services and solutions to achieve innovation and success. For more information, visit www.bsquare.com.
How do APIs and IoT relate? The answer is not as simple as merely adding an API on top of a dumb device, but rather about understanding the architectural patterns for implementing an IoT fabric. There are typically two or three trends: Exposing the device to a management framework Exposing that management framework to a business centric logic • Exposing that business layer and data to end users...
SYS-CON Events announced today that SOA Software, an API management leader, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. SOA Software is a leading provider of API Management and SOA Governance products that equip business to deliver APIs and SOA together to drive their company to mee...
From a software development perspective IoT is about programming "things," about connecting them with each other or integrating them with existing applications. In his session at @ThingsExpo, Yakov Fain, co-founder of Farata Systems and SuranceBay, will show you how small IoT-enabled devices from multiple manufacturers can be integrated into the workflow of an enterprise application. This is a pr...
SYS-CON Events announced today that Utimaco will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Utimaco is a leading manufacturer of hardware based security solutions that provide the root of trust to keep cryptographic keys safe, secure critical digital infrastructures and protect high val...
Connected devices are changing the way we go about our everyday life, from wearables to driverless cars, to smart grids and entire industries revolutionizing business opportunities through smart objects, capable of two-way communication. But what happens when objects are given an IP-address, and we rely on that connection, sometimes with our lives? How do we secure those vast data infrastruc...
Internet of @ThingsExpo Silicon Valley announced on Thursday its first 12 all-star speakers and sessions for its upcoming event, which will take place November 4-6, 2014, at the Santa Clara Convention Center in California. @ThingsExpo, the first and largest IoT event in the world, debuted at the Javits Center in New York City in June 10-12, 2014 with over 6,000 delegates attending the conference. ...