Business
Initial Closing of Private Placement and Extension of Gaby Property Purchase Option
(TheNewswire) JULY 26, 2024 | VANCOUVER, BC – TheNewswire – T...
About this update from Tribeca Resources Corporation
[{"type":"text","content":"Initial Closing of Private Placement and Extension of Gaby Property Purchase Option\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n JULY 26, 2024\n \n \n |\n \n \n VANCOUVER, BC –\n \n \n TheNewswire\n–\n \n \n Tribeca Resources Corporation\n \n \n (TSXV: TRBC) (OTCQB: TRRCF) (“\n \n \n Tribeca Resources\n \n \n ”,\nthe “\n \n \n Company\n \n \n ”), further to the news release of June 13, 2024, is\npleased to announce that it has completed closing of an initial\ntranche (the “\n \n \n Initial\nTranche\n \n \n ”) of the non-brokered private\nplacement (the \"\n \n \n Private\nPlacement\n \n \n \") of up to 6,666,667 common\nshares of the Company (\"\n \n \n Common Share\n \n \n \") at a price of $0.30 per\nCommon Share (the \"\n \n \n Purchase Price\n \n \n \") for gross proceeds of up\nto $2 million.\n \n \n \n \n In connection with the Initial Tranche, the Company has\nissued an aggregate of 3,551,243\n \n \n Common Shares\nfor gross proceeds of $1,065,372.90 representing approximately 5.71%\nof the Common Shares currently issued and outstanding on a non-diluted\nbasis prior to the closing of the Initial Tranche. The Company\nanticipates issuing an additional 670,000 Common Shares for additional\ngross proceeds of $201,000 in the next tranche, together with\nadditional subscribers.\n \n \n \n \n In connection with closing of the Initial Tranche, the\nCompany paid $7,500 to Tamesis Partners LLP in consideration for\nintroducing certain subscribers to the Private Placement.\n \n \n \n \n All securities issued pursuant to the Private Placement\nare subject to a statutory hold period of four months and one\nday.\n \n \n \n \n The subscription of three insiders of the Company in\nthe Private Placement accounted for $79,500 or approximately 7.46% of\nthe total gross proceeds. Participation by such insiders is exempt\nfrom the valuation and minority shareholder approval requirements of\nMultilateral Instrument 61-101\n \n \n Protection of Minority Security Holders in Special\nTransactions\n \n \n (“\n \n \n MI 61-101\n \n \n ”) by\nvirtue of the exemptions contained in Section 5.5(b) and 5.7(1)(b) of\nMI 61-101.\n \n \n \n \n Gaby Property Purchase Option\nExtension\n \n \n \n \n Tribeca Resources is also pleased to announce that it\nhas reac...