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Tribeca Resources Upsizes Private Placement Financing and Announces First Closing
(TheNewswire) JULY 24, 2023 – TheNewswire – VANCOUVER, BC - Tribeca R...
About this update from Tribeca Resources Corporation
[{"type":"text","content":"Tribeca Resources Upsizes Private Placement Financing and Announces First Closing\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n JULY 24, 2023 –\n \n \n TheNewswire –\n \n \n VANCOUVER, BC - Tribeca Resources\nCorporation\n \n \n (TSXV:TRBC) (OTC:TRRCF)\n(“\n \n \n Tribeca\nResources\n \n \n ”, the “\n \n \n Company\n \n \n ”) is\npleased to announce an increase to its previously announced\nnon-brokered private placement (the \"Private Placement\"). As\na result of strong investor interest, the Private Placement to raise\ngross proceeds of up to $3,000,000 has been upsized to raise aggregate\ngross proceeds of up to $3,500,000. The Company has received\ncommitments for approximately 90% of the upsized total financing to\ndate.\n \n \n \n \n All terms of the Private Placement remain the same and\nthe Company now intends to issue up to 10,606,060 units (the\n\"Units\") at a price of $0.33 per Unit for aggregate proceeds\nof up to $3,500,000 under the Private Placement. Each Unit will\nconsist of one common share of the Company (a \"\n \n \n Common Share\n \n \n \")\nand one-half of one Common Share purchase warrant of the Company (each\nwhole warrant, a \"\n \n \n Warrant\n \n \n \"). Each Warrant will entitle the\nholder thereof to purchase one additional Common Share at an exercise\nprice of C$0.55 for a period of 24 months from the date of issuance of\nthe Warrant.\n \n \n \n \n The Company also announced that it has closed the first\ntranche of the Private Placement. Under the first tranche of the\nPrivate Placement, the Company issued an aggregate of 8,504,165\n Units to raise gross proceeds of $2,806,374.\n \n \n \n \n In connection with closing of the first tranche, the\nCompany paid $102,000 and issued 309,091 Finder's Warrants to Tamesis\nPartners LLP in consideration for introducing certain subscribers to\nthe Private Placement. Each Finder’s Warrant is exercisable at a\nprice of $0.33 for a period of two (2) years from the date of issuance\nfor one Common Share.\n \n \n \n \n Tribeca Resources CEO, Dr Paul Gow\ncommented:\n \n \n \n \n “We are delighted with the strong\nresponse from existing shareholders and new investors for this Private\nPlacement and expect to complete the financing in the coming\nweeks.\"\n \n \n \n \n “The...