Tombill Mines Limited, is pleased to announce its intention to complete a non-brokered private placement of up to $500,000.
The Offering will be comprised of up to 50,000,000 units of the Company at a price of $0.01 per Unit for gross proceeds of up to $500,000. All currency in this news release is denominated in Canadian dollars.
Each Unit will consist of one common share and one common share purchase warrant. Each Warrant entitles the holder to purchase one Common Share of the Company at a price of $0.05 for a period of sixty months after closing. Certain insiders of Tombill may participate in the Offering and it is anticipated that the total participation by insiders will exceed 50% of the Offering.
The Company intends to use the proceeds from the Offering for working capital and field work purposes in 2026 and 2027. It is anticipated that over 10% of the gross proceeds from the Offering will be used for field work on the Geraldton property. None of the proceeds will be used for payments to persons conducting investor relations activities.
Completion of the Offering is subject to the acceptance of the TSX Venture Exchange. The securities issued pursuant to the Offering will be subject to a hold period of four months plus one day from the date of closing in accordance with applicable Canadian securities laws and the policies of the TSXV. No commission or finder’s fee will be paid in connection with the Offering.
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