First Tellurium Announces Increase in Private Placement Financing and 1st Tranche Closing

Executive Summary

• First Tellurium Corp. closed the first tranche of its non‑brokered private placement, issuing 4,992,545 units for gross proceeds of $848,732.65.
• The company is upsizing the offering to a total of up to 14,000,000 units at $0.17 per unit, targeting gross proceeds of up to $2,380,000 for general working capital.
• Units consist of one common share and half of a common‑share purchase warrant (full warrant exercisable at $0.24 for two years).

Key Details

• First Tranche Closing: 4,992,545 units issued; gross proceeds $848,732.65.
• Finder’s Fee Paid: $1,700 in connection with the first tranche.
• Hold Period: Securities from the first tranche subject to a hold period expiring July 18 2026; all securities from the upsized offering subject to a hold period of four months and one day from issuance.
• Upsized Offering Terms: Up to 14,000,000 units (including first‑tranche units) at $0.17 per unit, for potential gross proceeds of up to $2,380,000.
• Unit Composition: Each unit = 1 common share + ½ common‑share purchase warrant; each full warrant allows purchase of one common share at $0.24 per share, exercisable for two years from issue date.
• Use of Proceeds: Funds will be used for general working capital.
• Insider Participation: Anticipated participation by insiders may constitute a related‑party transaction under MI 61‑101 but is expected to be exempt from formal valuation and minority‑shareholder approval requirements.
• Finder’s Fee Flexibility: Company may pay additional finder’s fees in cash, shares, and/or warrants to eligible finders as permitted.

Notable Quotes

(No executive quotes were included in the release.)