White Tiger Mining Corp.
TSX VENTURE : WTC
FRANKFURT : W0I

White Tiger Mining Corp.

December 01, 2010 13:04 ET

White Tiger Announces Non-Brokered Private Placement for Up to $1.5 Million

WEST VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 1, 2010) - White Tiger Mining Corp. (the "Company" or "White Tiger") (TSX VENTURE:WTC)(FRANKFURT:W0I) is pleased to announce that, subject to regulatory acceptance, it intends to proceed with a non-brokered private placement financing (the "Private Placement") of up to 5,000,000 units (the "Units") of the Company at a price of $0.30 per Unit for aggregate proceeds of up to $1.5 million. Each Unit will consist of one common share in the capital of the Company and one-half (1/2) of one non-transferable share purchase warrant (each whole warrant a "Series A Warrant"), with each Series A Warrant entitling the holder to purchase one additional common share at a price of $0.40 for a period of 1 year from the date of closing of the Private Placement. Further, if the closing price of the Company's shares as traded on the TSX Venture Exchange is $0.60 or greater for a period of 20 consecutive trading days, the Company may give notice of an earlier expiry of the Series A Warrants, in which case they would expire 30 calendar days from the giving of such notice; provided further that, if a subscriber exercises any Series A Warrants during the term thereof, the Company will issue to that subscriber that number of Series B Warrants equal to the number of Series A Warrants exercised, with each Series B Warrant entitling the holder to purchase one additional common share at a price of $0.50 for a period of 2 years from the date of closing of the Private Placement. Further, if the closing price of the Company's shares as traded on the TSX Venture Exchange is $0.75 or greater for a period of 20 consecutive trading days, the Company may give notice of an earlier expiry of the Series B Warrants, in which case they would expire 30 calendar days from the giving of such notice. The Units will be subject to regulations governing private placement distributions, and are being sold with a four-month plus one day restriction period, during which time the shares will be restricted from trading. Finders' fees of 8% in cash or Units are expected to be paid on a portion of the offering, with 8% finders' options also expected to be paid on a portion of the offering.

The Company intends to use the proceeds from this Private Placement for furthering the exploration and development of the Company's Marshall Lake copper, silver, gold property project in Ontario and for general working capital purposes. For further details on the Marshall Lake property project, see the Company's website (www.whitetigermining.com) and White Tiger's recent news releases dated November 3, November 17 and December 1, 2010.

White Tiger Mining Corp.

Douglas L. Mason, Director (Chairman)

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.

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