Triple One closes $500,000 financing

Executive Summary

• Triple One Metals Inc. has closed a private financing raising gross proceeds of $500,000.
• The company issued 40,816,327 common shares at a price of 1.225 cents per share.
• Proceeds are designated for the payment of certain debts and working capital, with a finder's fee of $12,862.50 paid.

Key Details

• Gross Proceeds: $500,000
• Price Per Share: 1.225 cents
• Shares Issued: 40,816,327 common shares
• Use of Proceeds: Payment of certain debts and working capital
• Finder's Fee: $12,862.50
• Insider Participation: One insider subscribed indirectly for 3,000,000 common shares.
• Regulatory Status: The insider participation is a related-party transaction under Multilateral Instrument 61-101 but is exempt from formal valuation and minority shareholder approval requirements as the value does not exceed 25% of the company's market capitalization.
• Share Restrictions: The issued shares are subject to the required hold period pursuant to securities laws.