Tier One closes $3.31-million 1st tranche of financing

Executive Summary

• Tier One Silver Inc. closed the first tranche of its upsized non‑brokered private placement, issuing 41,488,000 units at $0.08 per unit for gross proceeds of $3.32 million.
• The units consist of one common share and one full common share purchase warrant (exercise price $0.11, exercisable through 11 Sept 2028).
• Proceeds are earmarked to fund exploration at the Curibaya project, investigate new projects, and provide general working capital.

Key Details

• Units Issued: 41,488,000 units @ $0.08 each → $3,319,040 gross proceeds.
• Unit Composition: 1 common share + 1 full‑share purchase warrant (exercise price $0.11, exercisable any time before 11 Sept 2028).
• Finder Compensation: Cash finder fees of $205,173 paid; issuance of 2,564,660 non‑transferable finder warrants on the same terms as unit warrants.
• Second Tranche: Expected closing ~16 Sept 2025 (final tranche), subject to receipt of funds and subscription agreements.
• Use of Proceeds:
• Finance exploration activities at the Curibaya project.
• Investigate new prospective projects.
• General working capital needs.
• Holding Period: Shares, warrants, and any shares issued upon warrant exercise are subject to a four‑month‑and‑one‑day hold period in Canada; first tranche lock‑up expires 12 Jan 2026.
• Warrant Restrictions: Certain investor warrants contain a 9.99 % ownership cap restriction to prevent new insider status.
• Future Fees: Upon closing of the second tranche, Tier One Silver intends to pay a corporate finance fee to its financial adviser/administrator.
• Regulatory Approval: Final TSX Venture Exchange approval pending filing of standard documentation.

Notable Quotes

(No executive quotes were provided in the release.)