Tsodilo closes $742,095 private placement

Executive Summary

• Tsodilo Resources Ltd. closed a non-brokered private placement financing, raising gross proceeds of $742,095.
• The company issued 4,947,297 units at a price of 15 cents per unit, with proceeds allocated to the advancement of its critical/rare earth metal and Xaudum iron formation projects, as well as general corporate purposes.
• Each unit consists of one common share and one warrant, with specific acceleration clauses for warrant expiry based on share price performance.

Key Details

• Gross Proceeds: $742,095
• Units Issued: 4,947,297 units
• Subscription Price: 15 cents per unit
• Unit Composition: Each unit comprises one common share and one common share purchase warrant.
• Warrant Terms:
  • Entitles holder to purchase one common share.
  • Exercise Price: 15 U.S. cents per share.
  • Duration: Five years from the date of issuance.
• Hold Period: Statutory four-month-and-one-day hold period expires on June 3, 2026.
• Warrant Acceleration Clause: If the common share closing price on the TSX Venture Exchange equals or exceeds 30 U.S. cents for any 10-consecutive-trading-day period (occurring after the hold period), the warrants will expire 30 days after the issuer provides notice of such accelerated expiry.
• Use of Proceeds: Advancement of the critical and rare earth metal project, the Xaudum iron formation project, and general corporate purposes/working capital.

Notable Quotes

• None provided in the text.