TORONTO, ONTARIO--(Marketwire - Nov. 14, 2012) - Telferscot Resources Inc. (CNSX:TFS) ("Telferscot" or the "Company") is pleased to announce that it has completed a non-brokered private placement of 3,313,000 common shares at a price of CAD 0.15 per share for gross proceeds of CAD 496,950. The Securities are legended and restricted from trading for four months. No commissions were paid in connection with the issue.
The Company is also pleased to announce that Louis Chertkow is joining the Board of Directors of the Company. Mr. Chertkow has over 30 years of experience in the distribution industry in North America, as principal and Chief Executive Officer. Currently Mr. Chertkow is the Chief Executive Officer and majority stockholder of a distribution company with distribution centers throughout the United States. Mr. Chertkow holds a Master Degree in Finance from MIT, Cambridge Massachusetts.
About Telferscot Resources Inc.
Telferscot Resources Inc. is a Canadian-based mineral exploration company currently earning into a copper and cobalt exploration project in the Kolwezi District located in the Democratic Republic of the Congo (see TFS release dated July 18, 2011). The Company also has a base and precious metal exploration project, "Stephens Lake", in northern Manitoba and is actively pursuing other opportunities globally. For further information and access to the Company's public disclosure record please consult SEDAR at www.sedar.com.
Listing and disclosure documents for Telferscot are available in the CNSX Listings Disclosure Hall (http://www.cnsx.ca/Page.asp?PageID=2065&SiteNodeID=203&BL_ExpandID=1391).
This news release may contain forward-looking statements that are based on the Company's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.