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Tamerlane Announces $2M Equity Financing

Tamerlane Ventures Inc. (TAM.V) announced plans for a non-brokered private placement of 32,375,000 units at a subscription price of $0.0618 per unit for gross proceeds of $2 million.

The private placement will be made by a single private investor, R. Christopher Charlwood of Vancouver, Canada, who will hold approximately 19.9% of the total issued and outstanding shares of Tamerlane.

Tamerlane said the proceeds from this private placement, along with a bridge loan, will provide the company with sufficient liquidity and operating capital to carry on with various initiatives currently under way aimed at growing the company and enhancing shareholder value.

Specifically, these initiatives include securing a significant project financing for Tamerlane's Pine Point Project and the monetization of other company assets, in particular the Los Pinos Copper Project in Peru.

In addition, the flow-through financing announced on December 20, 2012 will fund exploration programs at the company's various projects located in Northwest Territories.

The company announced the partial closing of the flow-through private placement announced on December 20, 2012, consisting of the issuance of 3,200,000 flow-through shares at a price of $0.05 per flow-through share for proceeds of $160,000.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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