Business Context and Reporting Period
Tan Range Exploration Corp. (TSX: TNX, AMEX: TRE) filed a Form 6-K on November 2, 2005, reporting on a corporate financing event. The registrant is a mining exploration company headquartered in Sharon, CT, with a Vancouver office.
Key Financial Metrics
The filing details a specific capital raise transaction rather than comprehensive financial statements.
- Transaction Type: Third tranche of a private placement.
- Investor: James E. Sinclair, Chairman and CEO.
- Proceeds: $375,000.
- Shares Issued: 133,929 common shares.
- Purchase Price: $2.80 per share (based on the weighted average trading price for the five consecutive trading days ended October 31, 2005).
- Warrants/Options: None issued.
Material Changes
This filing represents the execution of the third quarterly tranche of a $3,000,000 private placement agreement announced on January 13, 2005. The total agreement consists of eight quarterly tranches of $375,000 each, commencing February 1, 2005. The filing does not provide comparative financial data (revenue, profit, or cash flow) for the period.
Outlook, Risks, and Contingencies
- Restrictions: The shares issued in this tranche are subject to mandated hold periods and resale restrictions; certificates are legended accordingly.
- Regulatory Approval: Each tranche is subject to regulatory approval.
- SEC Disclosure Note: The company includes a cautionary note regarding the use of terms such as "measured," "indicated," and "inferred" resources, which are prohibited in SEC filings for U.S. registered companies. U.S. investors are directed to the Form 20-F for compliant disclosures.
Investor Verification Checklist
- Verify the total capital raised to date under the $3,000,000 private placement agreement.
- Confirm the regulatory approval status of the third tranche.
- Review the Form 20-F (File No. 0-50634) for compliant mineral resource disclosures and full financial statements.
- Check the status of the remaining five tranches of the private placement.