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Tincorp Metals Announces Closing of C$17,500,000 Best Efforts Subscription Receipt Offering, Including Full Exercise of Overallotment Option
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTIO...
About this update from Silvercorp Metals Inc.
[{"type":"text","content":"Tincorp Metals Announces Closing of C$17,500,000 Best Efforts Subscription Receipt Offering, Including Full Exercise of Overallotment Option\nTHIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES NOR FOR DISSEMINATION IN THE UNITED STATES. VANCOUVER, British Columbia, March 24, 2026 (GLOBE NEWSWIRE) -- Tincorp Metals Inc. (\"Tincorp\" or the \"Company\") (TSXV: \"TIN\") is pleased to announce the closing of its offering (the \"Offering\") of 43,750,000 subscription receipts (the \"Subscription Receipts\") at C$0.40 per Subscription Receipt for aggregate gross proceeds of C$17,500,000. The Offering consisted of a brokered private placement of 28,750,000 Subscription Receipts for gross proceeds of C$11,500,000 (the \"Brokered Offering\") and a concurrent non-brokered private placement of 15,000,000 Subscription Receipts for gross proceeds of C$6,000,000 (the \"Non-Brokered Offering\"). The Brokered Offering was led by Raymond James Ltd., as sole bookrunner and lead agent, on behalf of a syndicate of agents including ATB Cormark Capital Markets (collectively, the \"Agents\"), pursuant to an agency agreement dated March 24, 2026 (the \"Agency Agreement\") between the Company and the Agents, and included the full exercise of the Agents' 15% overallotment option granted pursuant to the Agency Agreement. The Offering was conducted in connection with the Company's previously announced definitive agreement (the \"Agreement\") with Silvercorp Metals Inc. (\"Silvercorp\") (TSX/NYSE American: SVM) and its wholly-owned subsidiary, Adventus Mining Corporation (\"Adventus\", together with Silvercorp, the \"Vendors\") to acquire the Santa Barbara Gold-Copper Project in Ecuador (the \"Santa Barbara Project\"), through the acquisition of the Vendors' wholly-owned subsidiary, Santa Barbara Metals Inc. (the \"Proposed Acquisition\"). Completion of the Offering is a condition precedent to the closing of the Proposed Acquisition. Each Subscription Receipt will, upon satisfaction of the Escrow Release Conditions (as defined in the Company's news release dated February 25, 2026), automatically convert into one common share of the Company (a \"Common Share\") and one-half of one Common Share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant entitles the...