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TINONE CLOSES FIRST TRANCHE OF OVERSUBSCRIBED PRIVATE PLACEMENT FINANCING FOR GROSS PROCEEDS OF C$2,154,400
TINONE CLOSES FIRST TRANCHE OF OVERSUBSCRIBED PRIVATE PLACEMENT FINANCING FOR GROSS PROCE...
About this update from Tinone Resources Inc
[{"type":"text","content":"\n \n \n \n TINONE CLOSES FIRST TRANCHE OF OVERSUBSCRIBED PRIVATE PLACEMENT FINANCING FOR GROSS PROCEEDS OF C$2,154,400\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 /THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Aug. 15, 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 \") is pleased to announce that the non-brokered private placement financing, previously announced on\n \n July 12, 2022\n \n and\n \n July 20, 2022\n \n , was oversubscribed and the first tranche has been closed, raising gross proceeds of\n \n C$2,115,400\n \n . A total of 21,154,000 units of the Company (the \"\n \n Units\n \n \") were issued at a price of\n \n C$0.10\n \n per Unit (the \"\n \n Financing\n \n \").\n \n \n \n \n \n \n \n \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 The Company paid cash finder's fees equal to\n \n $46,200\n \n and issued 462,000 finders warrants of the Company, to acquire that number of common shares in the capital of the Company at\n \n $0.20\n \n per share, for a period of 36 months following the closing date of the Financing.\n \n \n The Financing is subject to the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and necessary regulatory approvals. All securities issued in connection with the Financing will be subject to a statutory hold period of four months plus a day from closing, expiring\n \n December 16, 2022\n \n .\n \n \n The subscription by insiders pursuant to the Financing is considered to be a related party transaction subject t...