Tesoro Minerals closes $569,000 private placement

Executive Summary

• Tesoro Minerals Corp. closed an oversubscribed non‑brokered private placement of 7,112,500 common shares at C$0.08 per share, raising gross proceeds of C$569,000.
• Net proceeds will be used to advance the Rumichacha and Cerro Macho projects in Peru, support community engagement, and fund general working capital.
• An insider purchased 62,500 shares, constituting a related‑party transaction that is exempt from MI 61‑101 valuation and minority‑shareholder approval requirements.

Key Details

• Offering Size & Price: 7,112,5​00 common shares sold at C$0.08 per share.
• Gross Proceeds: C$569,000 (Canadian dollars).
• Finder’s Fee: 6 % cash fee paid to Haywood Securities Inc., amounting to C$33,840.
• Hold Period: All securities subject to a four‑month‑and‑one‑day hold period, expiring on 2026‑06‑05.
• Use of Proceeds:
• Advancement of Rumichacha and Cerro Macho properties (fieldwork, data compilation, geological mapping, sampling, IP ground geophysical surveys).
• Community and social engagement initiatives.
• General working capital and corporate purposes.
• Related‑Party Transaction: One insider acquired 62,500 shares; transaction exempt from MI 61‑101 formal valuation/minority approval because the company is not listed on a specified market and the value involved is below C$2.5 million.

Notable Quotes

(No direct quotes were provided in the release.)