Tenajon Resources Corp.
TSX VENTURE : TJS

Tenajon Resources Corp.

July 17, 2007 16:44 ET

Tenajon Announces Increase to Flow-Through Financing

Funds to Advance Molybdenum Exploration Programs

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 17, 2007) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Tenajon Resources Corp. (TSX VENTURE:TJS) (the "Company") is pleased to announce that it has agreed to increase the over-allotment option on its bought deal private placement financing previously announced July 17, 2007 to include an additional 700,000 Flow-Through Shares at a price of $0.85 per Flow-Through share for additional gross proceeds of $595,000. As a result, the financing has been amended to issue, on a bought deal private placement basis, 3,600,000 Flow-Through Shares of Tenajon at a price of $0.85 per Flow-Through Share and 2,000,000 Units at a price of $0.75 per Unit for total gross proceeds to Tenajon of $4,560,000. The Underwriters have an over-allotment option to purchase an additional 2,000,000 Units and 700,000 Flow-Through Shares of Tenajon for an additional $2,095,000 in total gross proceeds.

Dundee Securities Corporation and Canaccord Capital Corporation are co-leading the underwriting and Closing is expected to occur on or about August 14, 2007. All securities issued will be subject to a four month hold period. The offering is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals.

These securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States or to U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent registration or an applicable exemption from registration requirements.

On Behalf of the Board of Directors

TENAJON RESOURCES CORP.

D. Bruce McLeod, President

This news release may contain forward looking statements which are not historical facts, such as ore reserve estimates, anticipated production or results, sales, revenues, costs, or discussions of goals and exploration results, and involves a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, metal price volatility, volatility of metals production, project development, ore reserve estimates, future anticipated reserves and cost engineering estimate risks, geological factors and exploration results. See the Company's filings for a more detailed discussion of factors that may impact expected results.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

Contact Information

  • Tenajon Resources Corp.
    D. Bruce McLeod
    President
    (604) 687-7545 or Toll Free: 1-888-338-2200
    (604) 689-5041 (FAX)
    Email: info@northair.com
    Website: www.tenajon.com