First Tellurium Announces Private Placement Financing

Executive Summary

• First Tellurium Corp. announced a non‑brokered private placement to raise up to $1,700,000 by selling up to 10,000,000 units.
• Each unit consists of one common share and half of a common share purchase warrant; the full warrant allows purchase of one share at $0.24 for two years after closing.
• Proceeds are earmarked for general working capital, and insiders may participate under exempt related‑party transaction rules.

Key Details

• Units Offered: Up to 10,000,000 units (each = 1 common share + ½ warrant).
• Total Gross Proceeds Target: $1,700,000.
• Warrant Terms: One whole warrant per two units; each warrant permits purchase of one common share at $0.24, exercisable for a period of two years post‑closing.
• Eligibility: Offered to qualified purchasers under prospectus and registration exemptions.
• Use of Proceeds: General working capital for the Company.
• Finder’s Fee: May be paid in cash, shares and/or warrants to eligible finders as permitted by securities law and CSE policy.
• Holding Period: All securities subject to a lock‑up of four months + one day from issuance per CSE rules.
• Insider Participation: Expected; considered an exempt related‑party transaction under MI 61‑101 because the fair market value of insider allocations is not expected to exceed 25% of market cap and the Company is not listed on exchanges covered by the stricter provisions.
• Regulatory Notices: No offer or solicitation in the United States; securities not registered under the U.S. Securities Act of 1933.

Notable Quotes

“This financing provides us with the capital needed to advance our exploration and technology development programs while maintaining a flexible capital structure,” – Tyrone Docherty, President and CEO.