Typhoon Exploration Inc.

Typhoon Exploration Inc.

December 17, 2014 15:03 ET

Typhoon Exploration Inc. Closes a $171,500 Private Placement

LAVAL, QUEBEC--(Marketwired - Dec. 17, 2014) - Typhoon Exploration Inc. («Typhoon») (TSX VENTURE:TYP) announces that it has completed a non-brokered Private Placement by issuing a total of 2,450,000 flow-through common shares at a price of $0.07 per share, for total gross proceeds of CAD$171,500. The securities issued in the Private Placement are subject to a four-month-and-one-day hold period expiring on April 18, 2015, pursuant to applicable securities legislation and the rules of TSX Venture Exchange. Typhoon's directors subscribed for 17% of the securities in this placement.

Each unit is comprised of one (1) common share and one-half (1/2) subscription warrant. Each whole warrant will entitle its holder to subscribe for one (1) common share of Typhoon at the price of $0.10 per share for a period of twenty-four (24) months following the closing date, that is to say until December 17, 2016.

Typhoon will use the Private Placement proceeds to finance exploration work on its properties.

As a result of the Private Placement, there are 32,156,791 common shares of Typhoon issued and outstanding.

The common shares of Typhoon are listed on the TSX Venture Exchange under the symbol "TYP".


The exploration campaign carried out this fall in collaboration with Hecla Quebec Inc. on the Fayolle property (50%-owned by Hecla and 50%-owned by Typhoon) has been completed. The campaign included 25.4 km of line cutting and an induced polarization survey of 37.7 km on the Cinco zone and on the soil anomaly south of Fayolle. This new data will help plan for the next drilling campaign.

Forward-Looking Statements

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

Contact Information