Tombstone Exploration Receives $100,000 from Private Placement
Tombstone Exploration Corporation has received $100,000 from the sale of restricted Common Stock from a private investor. The stock was priced at $.10/share. Proceeds will be used for general working capital.
Alan Brown, President and CEO of TMBX, stated, "This is the first in a series of funding that we expect to receive from long-term investors. The receipt of this initial investment will enable TMBX to continue to strategically develop its Tombstone acreage plus begin efforts to add other promising opportunities to our current property."
Tombstone Exploration Corporation (TMBXF) is focused primarily on exploration and development of mineral resources. At the completion of the feasibility study, the Company will then consider joint venture mining or some other scenario that would eventually expedite a mining operation on the Tombstone property. More often in these scenarios, the Company would become subject to take over offers based on a positive economic feasibility study. The Company understands that the discovery to feasibility phase generally offers the best return on investment to shareholders. Tombstone Exploration Corporation has the mineral rights to approximately 11,500 acres of historical mining land in the areas around Tombstone, Arizona and is now the largest landholder in the Tombstone Mining District. Through expansion, the Company will acquire new properties.