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TINONE ANNOUNCES AMENDMENT TO PRIVATE PLACEMENT FINANCING
TINONE ANNOUNCES AMENDMENT TO PRIVATE PLACEMENT FINANCING Canada NewsWire ...
About this update from Tinone Resources Inc
[{"type":"text","content":"\n \n \n \n TINONE ANNOUNCES AMENDMENT TO PRIVATE PLACEMENT FINANCING\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n (TSX-V: TORC)\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n July 21, 2022\n \n \n /CNW/ -\n \n TinOne Resources Inc.\n \n (TSXV: TORC) (\"\n \n TinOne\n \n \" or the \"\n \n Company\n \n \") announces amended terms to its non-brokered private placement financing (the \"\n \n Financing\n \n \"), previously announced on\n \n July 12\n \n , 2022.  Given current market conditions, the Company has made a decision to amend the purchase price to\n \n C$0.10\n \n per Unit (the \"\n \n Unit\n \n \"). Each Unit is comprised of one common share of the Company and one common share purchase warrant (the \"\n \n Warrant\n \n \") of the Company. Each Warrant will entitle the holder to purchase one common share of the Company at an exercise price of\n \n C$0.20\n \n for a period of 36 months following the closing date of the Financing.\n \n \n In connection with the Financing, the Company may pay finder's fees up to 6% cash and up to 6% in finder's warrants to eligible finders.  Closing of the Financing is subject to receipt of all necessary approvals, including that of the Board of Directors and the TSX Venture Exchange.  All securities issued in connection with the Financing will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation in\n \n Canada\n \n .\n \n \n The subscription by insiders pursuant to the Financing is considered to be a related party transaction subject to Multilateral Instrument 61-101. The Company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of Multilateral Instrument 61-101 on the basis that participation in the private placement by insiders will not exceed 25% of the fair market value of the Company's market capitalization.\n \n \n Proceeds from the Financing will be ...