TinOne Resources closes $300,000 private placement financing

TinOne Resources Inc. (TSXV: TORC) announced it closed a non-brokered private placement financing that raised gross proceeds of $300,000. The Canadian mining company issued 6,000,000 units at $0.05 per unit.

Each unit consists of one common share and one warrant. The warrants allow holders to purchase additional shares at C$0.065 until September 2, 2030.

The company paid C$5,580 in finder's fees and issued 111,600 finder's warrants to eligible finders. These finder's warrants enable the purchase of shares at $0.065 each until September 2, 2028.

All securities issued are subject to a four-month and one-day hold period under Canadian securities laws. The securities have not been registered under the U.S. Securities Act of 1933.

TinOne stated the net proceeds will be used to maintain the company and its tenements in good standing, as well as for working capital purposes.

The company operates tin projects in Tasmania, Australia, and is listed on the TSX Venture Exchange. TinOne also trades on the OTCQB market under ticker TORCF and on the Frankfurt Stock Exchange as 57Z.

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