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Tournigan Energy Ltd.
| | June 29, 2010
Tournigan Plans Private Placement
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| | Vancouver, June 29, 2010 - Tournigan Energy Ltd. (TVC: TSX-V; TGP: Frankfurt) (Tournigan or the "Company") plans to raise up to $3,000,000 from a non-brokered private placement financing from the sale of up to 30,000,000 units ("Unit") at a price of $0.10 per Unit. Each Unit will comprise one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one common share of Tournigan at a price of $0.20 per share for a period of twenty-four months from the closing date. The private placement is subject to compliance with applicable securities laws and to receipt of regulatory approval. The Company may pay finder's fees on a portion of the placement within TSX Venture Exchange allowable limits.
Tournigan intends to use the net proceeds of the private placement to advance its high-grade Kuriskova uranium project in Slovakia and for general working capital purposes.
About Tournigan Energy Ltd.
Tournigan is a uranium exploration and development company that has built a portfolio of highly prospective assets in Slovakia, a member of the European Union since 2004. Slovakia is economically and politically stable, has excellent infrastructure and currently has four nuclear reactors generating half of its electricity with two more under construction. Tournigan is committed to safe and sustainable exploration and mine development in Slovakia. In addition to Kuriskova, Tournigan has several other exploration targets along the Slovakian uranium belt which are showing positive exploration results.
TOURNIGAN ENERGY LTD.
"Dusty Nicol"
Dorian L. (Dusty) Nicol, President and CEO
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.
For further information please contact: Knox Henderson, Tournigan Energy Investor Relations, at (604) 683-8320 or visit www.tournigan.com. |
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