Turmalina Announces Closing of Share Financing
Summary
VANCOUVER, British Columbia, March 03, 2025 (GLOBE NEWSWIRE) -- Turmalina Metals Corp. (Turmalina, or the Company; TBX-TSXV, TBXXF-OTCQX, 3RI-FSE) is pleased to announce that it has closed its previously announced non-brokered private placement offering (the Offering) for aggregate gross proceeds of $5,000,000, from the issuance of 100,000,000 common shares in the capital of the Company (the Shares) at a price of $0.05 per Share.The net proceeds of the Offering will be used to satisfy continuing costs associated with the Companys properties and for general working capital purposes.In connection with closing of the Offering, the Company issued an aggregate of 1,746,500 Shares to certain eligible arms length finders.All securities issued in connection with closing of the Offering are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.The subscribers in the Offering included two directors, as well as one corporate subscriber controlled by an officer of the Company (collectively, the Insiders), who subscribed for an aggregate of 8,500,000 Shares for aggregate gross proceeds of $425,000 to the Company. Further details related to the name change will be provided in subsequent news releases of the Company.On Behalf of the Company,For Investor Relations enquiries, please contact +1 833 923 3334 (toll free) or via info@turmalinametals.com.About Turmalina Metals and our projects: Turmalina Metals is a TSXV-listed exploration company focused on developing our portfolio of high-quality gold-copper-silver projects in South America. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words expects, plans, anticipates, believes, intends, estimates, projects, potential and similar expressions, or that events or conditions will, would, may, could or should occur. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions, as well as legal, social, and economic conditions in Argentina and Peru, where the Companys mineral exploration properties are located. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that managements beliefs, estimates or opinions, or other factors, should change.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 release or has in any way approved or disapproved of the contents of this press release.