Tesoro Gold: Secures strategic investment for El Zorro, Chile

Tesoro Gold Secures strategic investment for El Zorro, Chile

• Tesoro Gold (TSO) launches an $8 million capital raise, with the majority of the funds to go towards its El Zorro gold project in Chile
• The capital raise includes a strategic investment by Gold Fields subsidiary Corporate International, which is committing to a $4.2 million placement
• Tesoro will issue investors 120 million shares at 3.5 cents each along with one free-attaching option for every two shares, exercisable at 7 cents within three years
• Separately, a fully underwritten entitlement offer will raise the other $3.8 million, allowing eligible shareholders to subscribe for one new share for every eight shares held
• Tesoro shares are up 2.7 per cent to trade at 3.8 cents at 1:14 pm AEDT