White Tiger Completes Non-Brokered Private Placement
Trading symbol: TSX-V: WTC Frankfurt: W0I
News Release No. 11-01
White Tiger Completes Non-Brokered Private Placement
West Vancouver, British Columbia – February 7, 2011 – White Tiger Mining Corp. (the “Company” or “White Tiger”) is pleased to announce that further to its news release of December 1, 2010, the Company has closed its non-brokered private placement (the “Private Placement”). The Company has raised $1,362,350 by the issuance of 4,541,165 units (the “Units”) at a price of $0.30 per Unit. Each Unit consists 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. In connection with the Private Placement, finders’ fees were paid in the amount of $72,588 ($72,348 in cash and $240 in Units) and 241,959 finders’ warrants were issued. Each finder’s warrant entitles the holder to acquire one common share of the Company at $0.40 per share and exercisable for 12 months from the closing of the Private Placement. All of the securities issued pursuant to the Private Placement are subject to a hold period expiring on June 5, 2011.
In connection with this Private Placement, certain directors, officers and associates of the Company subscribed for 623,333 units. Certain of these subscriptions were facilitated through a cross of 515,000 shares.
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 news releases dated November 3, November 17 and December 1, 2010.
For further information, contact Mr. Clive Shallow, investor relations at 604-922-2030 or visit the Company’s new website at www.whitetigermining.com
White Tiger Mining Corp.
“Douglas L. Mason”
_________________________________ 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.