Tinone closes $300,000 private placement

Executive Summary

• Tinone Resources Inc. closed a non‑brokered private placement, issuing 6 million units at $0.05 per unit and raising gross proceeds of $300,000.
• Each unit includes one common share and one warrant to purchase an additional share at $0.065, exercisable through September 2 20230.
• Net proceeds will be used for maintaining tenements in good standing and general working‑capital needs.

Key Details

• Gross proceeds: $300,000 from the private placement.
• Units issued: 6,000,000 units at $0.05 per unit.
• Unit composition: 1 common share + 1 common share purchase warrant (exercise price $0.065, exercisable until 2 Sept 2030).
• Finder compensation: $5,580 paid in cash plus issuance of 111,600 finder warrants (each warrant for one share at $0.065, exercisable until 2 Sept 2028).
• Hold period: All securities issued are subject to a four‑month‑and‑one‑day hold period under Canadian securities laws.
• Use of proceeds: To maintain the company’s tenements in good standing and for general working‑capital purposes.

Notable Quotes

(No executive quotes were provided in the release.)