VANCOUVER, BC, August 15, 2022 /CNW/ – TinOne Resources Inc. (TSXV: TORC) (“TinOne“or the”Company“) is pleased to announce that the non-brokered private placement financing, previously announced on July 12, 2022 and July 20, 2022was oversubscribed and the first tranche was closed, generating gross proceeds of C$2,115,400. A total of 21,154,000 shares of the Company (the “Units“) were issued at the price of CA$0.10 per unit (the “Funding“).

Each unit consists of one common share of the Company and one common share purchase warrant (the “To guarantee“) of the Company. Each warrant will entitle its holder to purchase one common share of the Company at an exercise price of CA$0.20 for a period of 36 months following the closing date of the Financing.

The Company paid a cash finder’s fee equivalent to $46,200 and issued 462,000 Company warrants to acquire such number of common shares in the capital of the Company at $0.20 per share, for a period of 36 months following the closing date of the Financing.

The financing is subject to receipt of all necessary approvals, including the approval of the TSX Venture Exchange and the necessary regulatory approvals. All securities issued under the Financing will be subject to a statutory hold period of four months plus one day from closing, expiring December 16, 2022.

Subscription by insiders under the Financing is considered a related party transaction subject to Multilateral Instrument 61-101. The Company intends to rely on the exemptions from the formal valuation and minority shareholder approval requirements set out in sections 5.5(a) and 5.7(a) of NI 61-101 on the basis that participation in the private placement by insiders will not exceed 25% of the fair market value of the market capitalization of the Company.

Proceeds from the financing will be used for exploration and working capital purposes.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in United States, and there will be no sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or under any state securities laws United States, and may not be offered or sold in United States lack of registration or an applicable exemption from the registration requirements of the 1933 Act, as amended, and applicable state securities laws.

About TinOne

TinOne is a Canadian public company listed on the TSX Venture Exchange with a portfolio of high quality tin projects in Tier 1 mining jurisdictions of Tasmania and New South Wales, Australia. The Company is focused on advancing its highly prospective portfolio while evaluating other tin opportunities. TinOne is backed by Inventa Capital Corp.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release contains certain “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” under applicable Canadian securities laws. When used in this press release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “expect”, “may”, “should “, “could”, “appendix” and similar words or expressions, identify forward-looking statements or information. Such forward-looking statements or information relate to, among other things: the development of the Company’s projects, including drilling programs and the mobilization of drilling rigs; future mineral exploration, development and production; release of drilling results; and completion of a drilling program.

Forward-looking statements and forward-looking information relating to any future mineral production, liquidity, value enhancement and capital markets profile of TinOne, future growth potential of TinOne and its business, and plans for exploration are based on management’s reasonable assumptions, estimates and expectations. , analyzes and opinions, which are based on management’s experience and perception of trends, current conditions and expected developments, and other factors which management deems relevant and reasonable in the circumstances, but which may differ turn out to be incorrect. Assumptions have been made regarding, among other things, the price of gold and other metals; no escalation in the severity of the COVID-19 pandemic; exploration and development costs; estimated development costs of exploration projects; TinOne’s ability to operate safely and efficiently and its ability to obtain financing on reasonable terms.

These statements reflect TinOne’s respective current views regarding future events and are necessarily based on a number of other assumptions and estimates which, while considered reasonable by management, are inherently subject to significant business uncertainties and contingencies, economic, competitive, political and social. Many factors, known and unknown, could cause actual results, performance or achievements to differ materially from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or information and TinOne has made assumptions and estimates based on or related to many of these factors. These factors include, but are not limited to: the Company’s dependence on early-stage mining projects; metal price volatility; risks associated with the conduct of the Company’s mining activities in Australia; regulatory, consent or authorization delays; risks related to dependence on the Company’s management team and external contractors; risks related to mineral resources and reserves; the Company’s inability to obtain insurance covering all risks, whether on a commercially reasonable basis or at all; currency fluctuations; risks related to the inability to generate sufficient operating cash flow; risks related to project financing and share issues; the risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and the capital and operating costs of such projects; disputes over title deeds, in particular unbuilt title deeds; environmental, health and safety laws and regulations; the ability of the communities in which the Company operates to manage and cope with the implications of COVID-19; the economic and financial implications of COVID-19 for the Company; operational or technical difficulties related to mining or development activities; employee relations, social unrest or unavailability; the Company’s interactions with surrounding communities and artisanal miners; the Company’s ability to successfully integrate the acquired assets; the speculative nature of exploration and development, including the risks of declining quantities or grades of reserves; stock market volatility; conflicts of interest between certain directors and officers; lack of liquidity for the shareholders of the Company; litigation risk; and the factors identified under “Risk Factors” in TinOne’s management discussion and analysis. Readers are cautioned against attributing undue certainty to forward-looking statements or forward-looking information. Although TinOne has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or predicted. TinOne does not intend and undertakes no obligation to update any such forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other event affecting such statements or information, except as required by law. applicable so requires. .