- Turmalina Metals Corp. (TBX) has increased the size of its non-brokered private placement to $5,000,000
- The company increased the size of its maximum number of units to 11,111,111 units at a price of $0.45 per unit
- The company had earlier kicked off a non-brokered private placement of up to $4.5 million
- Turmalina Metals is a Canadian exploration company focused on developing its portfolio of gold-copper-silver projects in South America
- Turmalina Metals Corp. was unchanged at $0.54 at 9:41 AM ET
Turmalina Metals Corp. (TBX) has increased the size of its fully subscribed, non-brokered private placement to $5,000,000.
The company increased the size of its maximum number of units to 11,111,111 units at a price of $0.45 per unit.
Beyond the increase in size, all other terms of the offering remain the same.
The company had earlier kicked off a non-brokered private placement of up to $4.5 million.
“The strong response to this private placement and the upsizing of the financing to the maximum amount allowable to the company under this exemption is reflective of the strength of the projects and the technical team advancing these assets,” said CEO and Director James Rogers.
“We look forward to updating investors as we advance at both San Francisco in San Juan, Argentina and at Chanape in Peru,” he added.
The company has received commitments totalling the full amount of the anticipated proceeds of the offering and, subject to receipt of funds from such subscribers, does not anticipate taking further subscriptions.
The closing of the offering remains subject to standard conditions, including acceptance of subscriptions by the company, approval of the TSX Venture Exchange, and receipt of all funds.
The offering is being completed in line with the listed issuer financing exemption under Part 5A of National Instrument 45-106 Prospectus Exemptions. The securities issued in the offering will not be subject to a hold period.
Turmalina Metals is a Canadian exploration company focused on developing its portfolio of gold-copper-silver projects in South America.
Turmalina Metals Corp. was unchanged at $0.54 at 9:41 AM ET.
