Tribeca Resources arranges $5-million private placement

Executive Summary

• Tribeca Resources is launching a non‑brokered private placement of up to 23,809,523 units at C$0.21 per unit, targeting gross proceeds of up to $5 million (minimum $2 million).
• Proceeds will be used for exploration at the La Higuera and Jiguata projects and for general working capital.
• The deadline to execute a definitive agreement for the acquisition of the 100% interest in the Jiguata porphyry copper project has been extended to Oct. 31, 2025.

Key Details

• Units Offered: Up to 23,809,523 units (each unit = 1 common share + ½ warrant).
• Price per Unit: C$0.21 (≈ US$0.16).
• Gross Proceeds Target: Up to $5 million; minimum subscription $2 million.
• Warrant Terms:
• Exercise price: C$0.30 if exercised within the first 12 months after closing, C$0.40 in the second 12‑month period (total 24‑month exercise window).
• No exercise during the initial 60 days post‑closing.
• Company may accelerate expiry if TSX‑V VWAP ≥ C$0.50 for ten consecutive trading days.
• Regulatory Basis: Listed Issuer Financing Exemption (LIFE) under NI 45‑106 and Coordinated Blanket Order 45‑935. No hold period required.
• Use of Proceeds: Exploration at La Higuera and Jiguata projects; general working capital.
• Finder’s Fees: Up to 6% of gross proceeds payable in cash or shares, plus up to 6% finder warrants on the number of shares issued to introduced subscribers.
• Closing Date: Expected around Oct. 29, 2025, subject to TSX‑V approval and other closing conditions.
• Insider Participation: Certain directors/management may subscribe; treated as a related‑party transaction exempt from MI 61‑101 valuation/approval requirements (insiders’ holdings ≤25% of market cap).
• Jiguata Project Update: Letter of intent to acquire 100% of the Jiguata porphyry copper project (Chile) announced June 19, 2025; deadline for definitive agreement extended to Oct. 31, 2025.

Notable Quotes

(No direct quotes were provided in the release.)