Tesoro Minerals plans C$600,000 private placement on TSX-V

Tesoro Minerals Corp. (TSXV: TES) announced plans for a non-brokered private placement of up to 6,000,000 common shares at C$0.10 per share, for gross proceeds of up to C$600,000.

The Vancouver-based junior exploration company said proceeds will be directed toward advancing its Rumichaca and Cerro Macho properties in Peru, covering initial fieldwork, geological mapping, sampling, and induced polarization ground geophysical surveys. Additional funds will support community engagement and general working capital.

A finder's fee of up to 6% of proceeds may be paid in cash, in accordance with TSX Venture Exchange policies. Closing of the placement is subject to TSX-V approval and other customary conditions. All securities issued will be subject to a four-month and one-day hold period under applicable securities laws.

The company stated that no proceeds will be used for investor relations activities, and no payments will be made to non-arm's length parties.

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