Tamerlane Ventures, Inc. (TSXV:TAM) announced a non-brokered private placement of 32,375,000 units at CAD 0.0618 per unit for gross proceeds of CAD 2,000,775 on January 7, 2013. Each unit will consists of one common share and one-half of one common share purchase warrant. Each whole common share purchase warrant will entitle the holder to purchase an additional common share at an exercise price of CAD 0.11 per share for a period of 24 months. A single private investor, R. Christopher Charlwood based in Canada will invest for the whole amount to hold approximately 19.9% of the total issued and outstanding shares. The securities issued will be subject to a four-month hold period. The transaction is expected to close on or before January 31, 2013.

On January 21, 2013, Tamerlane Ventures, Inc. closed the transaction. The company issued 27,489,353 units to R. Christopher Charlwood for gross proceeds of CAD 1,698,842. The investor now holds 19.99% stake in the company.