Tincorp Metals Announces $140K Private Placement at 25% Discount, Extends Warrants | TINFF Stock News
Summary
Vancouver, British Columbia--(Newsfile Corp. - November 28, 2024) - Tincorp Metals Inc. (TSXV: TIN) (OTCQX: TINFF) ("Tincorp" or the "Company") is pleased to announce the Company intends to undertake a non-brokered private placement financing (the "Offering") to raise gross proceeds of up to approximately from the sale of up to 1,244,444 shares ("Shares") at a price of 25 per Share (representing a discount to the last closing price of the common shares of the Company trading on the TSX Venture Exchange).The Offering is anticipated to close before December 31, 2024, or such other date as the Company may determine (the "Closing Date").As insider(s) of the Company are expected to participate in the Offering, any such subscriptions will be considered "related party transactions" within the meaning of TSXV Policy 5.9 Protection of Minority Security Holders in Special Transactions, which incorporates Multilateral Instrument 61-101 Protection of Minority Securityholders in Special Transactions ("MI 61-101"). The Company intends to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(a) of MI 61-101 in respect of such insider participation.All securities issued will be subject to a statutory four-month and one-day hold period from the Closing Date. The Company intends to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(a) of MI 61-101 in respect of such insider participation.Tincorp Metals Inc. is a mineral exploration company focusing on tin projects in Bolivia and a gold project near Whitehorse, Yukon, Canada. An independent mineral resource estimate update in respect of the Skukum Gold Project was completed in October 2022.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.This news release contains forward-looking statements and forward-looking information (collective, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation. Forward-looking statements are often, but not always, identified by words or phrases such as "expects", "is expected", "anticipates", "believes", "plans", "projects", "estimates", "assumes", "intends", "strategies", "targets", "goals", "forecasts", "objectives", "budgets", "schedules", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions.