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BRIEF-True North Gems secures US$4 mln in financing for Aappaluttoq ruby project

Published 2015-08-26, 09:40 a/m
© Reuters.  BRIEF-True North Gems secures US$4 mln in financing for Aappaluttoq ruby project
TGX
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Aug 26 (Reuters) - True North Gems Inc TGX.V :
* Secures US$4 million in financing for the aappaluttoq ruby project in sw
Greenland
* Says signed a share purchase and option agreement with Greenland venture
* Says Greenland venture will purchase 5,722,940 issued a-shares of the
company's operating subsidiary in Greenland
* Says following completion of the sale, True North will own 85.39% of the
issued and outstanding shares of tngg
* Says intends to use net proceeds of deal to finalize delivery and
installation of processing system developed for aappaluttoq project

* Source text for Eikon ID:nMKW9TPQGa

* Further company coverage TGX.V

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