Tesoro Resources to raise $21M for exploration in Chile

Tesoro Resources has received commitments to raise up to $21 million to support drilling and exploration at the El Zorro Gold Project in Chile. Of the $21 million, $18 million will be raised through a placement which will issue over 66.6 million shares at 27 cents. The remaining $3 million will be raised from a share purchase plan, allowing shareholders to apply for up to $30,000 worth of shares at 27 cents each.

Source: The Market Herald