Business
Tesoro Minerals Announces Upsizing of Previously Announced Private Placement
Vancouver, British Columbia--(Newsfile Corp. - August 4, 2020) - Tesoro Minerals Corp.,  ...
About this update from Tesoro Minerals Corp.
[{"type":"text","content":"Tesoro Minerals Announces Upsizing of Previously Announced Private PlacementVancouver, British Columbia--(Newsfile Corp. - August 4, 2020) - Tesoro Minerals Corp.,  (TSXV: TES) (\"Tesoro\" or the \"Company\") is pleased to announce, further to the Company's press release dated June 18, 2020, an upsizing of its previously announced non-brokered private placement (the \"Private Placement\"). The upsized Private Placement will be for gross proceeds of up to $336,150 through the sale of up to 6,723,000 units (the \"Units\") at a price of $0.05 per Unit (all dollar amounts in CAD$). Each Unit will consist of one common share (a \"Share\") and one transferrable common share purchase warrant (each whole common share purchase warrant, a \"Warrant\"). Each Warrant will entitle the holder to purchase one additional Share at a price of $0.10 per Share for a period of two years from the closing date. The Shares, Warrants and any Shares issued on the exercise of the Warrants, will be subject to a four month restricted resale period in accordance with the policies of the TSX Venture Exchange (\"TSXV\") and applicable securities laws. A cash finder's fee may be paid on a portion of the Private Placement in accordance with TSXV policies. Closing of the Private Placement is subject to certain customary conditions, including the receipt of TSXV approval.The net proceeds of the offering are expected to be used by Tesoro for general working capital and operating expenses to support business efforts. About TesoroThe Company has assembled a team of experienced geoscientists with extensive exploration experience in the Americas with the aim of acquiring other assets. For further information on the Company please contact Peter Tegart, President & CEO at [email protected] or at (604) 349-1244.On Behalf of the Board of Directors\"Peter Tegart\"Peter TegartPresident & Chief Executive OfficerNeither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the \"U.S. Securities Act\") or any state...