Tower Resources Ltd. Announces Non-Brokered Private Placement - MSNewsNow.com - Jackson, MS

Tower Resources Ltd. Announces Non-Brokered Private Placement

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VANCOUVER, BC: Tower Resources Ltd. (the "Company") announces that it has arranged, subject to regulatory approval, a non-brokered private placement of up to 15,000,000 units of the Company at a price of $0.05 per unit for gross proceeds of up to $750,000. Each unit is to consist of one common share and one-half of one transferable common share purchase warrant exercisable at $0.10 for a period of two years. Upon the completion of a four month period commencing from the date of issuance, the warrants will be subject to accelerated conversion within 30 days of the Company disseminating a press release providing notice of same, in the event the shares of the Company close at over $0.20 for 10 consecutive trading days. Net proceeds from the private placement will be used for general working capital purposes.

Closing of the Offering is subject to the receipt of all necessary corporate and regulatory approvals, including the TSX Venture Exchange.

Tower Resources Ltd.

Mark Vanry – Director, CEO & President

(604) 558-2565

mvanry@towerresources.ca

www.towerresources.ca

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

ReleaseID: 412377

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