Business
Turmalina Metals Upsizes and Closes Book on Previously Announced Financing
VANCOUVER, British Columbia, March 14, 2024 (GLOBE NEWSWIRE) -- Turmalina Metals Corp. (“Turmalina” or the “Company”, TBX: TSX Venture; TBXFF: OTC Markets; 3RI:
About this update from King Copper Discovery Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, March 14, 2024 (GLOBE NEWSWIRE) -- Turmalina Metals Corp. (“Turmalina” or the “Company”, TBX: TSX Venture; TBXFF: OTC Markets; 3RI: Frankfurt) announces that it has upsized and closed the book on its previously announced private placement financing (see news release dated March 4, 2024). The financing, originally consisting of an issuance of 15,000,000 units at a price of $0.10 per Unit for total proceeds of $1,500,000 has been upsized to 20,000,000 units at a price of $0.10 per Unit for total proceeds of $2,000,000 (the “Offering”). The Company anticipates closing the financing as soon as practicable. Closing remains subject to receipt of subscription proceeds and approval from the TSXV. As previously disclosed, under the Offering, each Unit will consist of one common share (each, a “Common Share”); and one common share purchase warrant (each common share purchase warrant, a “Warrant”). Each Warrant will entitle the holder to purchase a Common Share at an exercise price of $0.15 for a period of two years from the date of issue. The securities under the Offering will be subject to restrictions on resale expiring four months and day after issue. The Company may pay registered finders a fee in cash and/or share purchase warrants. The Company intends to use the net proceeds to satisfy ongoing costs associated with its properties as well as general working capital purposes. The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of, nor a solicitation for offers to buy, any securities in the United States. On Behalf of the Company, James Rogers, Chief Executive Officer and Director. Website: www.turmalinametals.com Address: #1507 - 1030 West Georgia St, Vancouver, BC V6E 3V7. For Investor Relations enquiries, please contact +1 833 923 3334 (toll free) or via [email protected]. Forward Looking Statement This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this news release, other than state...