Triple One Metals Closes $255,079.95
For Immediate Release:
January 27, 2025 – Triple One Metals Inc. ("Triple One" or the "Company") (CSE:TONE) is pleased to announce a financing to raise $255,079.95 at $ 0.011 per share and, subject to approval, will issue 23,189,087 common shares.
The use of proceeds is the payments of certain debts and for working capital. No finder’s fee is payable.
Two insiders of the Company subscribed for a total of 5,780,000 common shares. As such, this participation constitutes a “related party transaction” as defined under Multilateral Instrument 61- 101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). Such participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as neither the fair market value of the common shares acquired by the insiders nor the consideration for the common shares paid by such insider’s exceeds 25% of the Company’s market capitalization. The Company did not file a material change report 21 days prior to the closing date of this private placement as details of the respective participation of such insiders in the Offering was unknown at such time.
All common shares to be issued will be issued with the required hold period as required by securities laws.
The closing of the transaction is subject to the final approval of the Canadian Securities Exchange.
The Company confirms there are no material facts or material changes related to the Company which has yet to be generally disclosed.
About Triple One Metals Inc.
Founded in 2018 as MLK Gold Ltd. the Company quickly emerging as one of Atlantic Canada's exciting resource exploration companies offering exposure to gold and the strategic metal representing a unique mix of discovery and resource development potential. The Company changed its name to Triple One Metals Inc. on April 12, 2023, to better reflect its intended corporate focus. Invested in a portfolio of gold and critical metal projects in mining and mineral-rich Newfoundland, Triple One’s plan is to capitalize on the province's ranking as one of the world’s top 10 mining jurisdictions and expand into a long-life, financially sound, gold, and critical metal-mining company.
Additional information about the Company and its activities may be found on the Company’s website currently under construction, and under the Company’s profile at www.sedarplus.ca.
For additional information
A. Paul Gill Chief Executive Officer, Triple One Metals Inc.
59 Payzant Drive P.O. Box 657, Windsor Nova Scotia, Canada, B0N 2T0
Forward-Looking Statements
This news release contains certain “forward looking statements” including, for example, statements relating to the completion of the Transaction and Placement and the Company’s anticipated share capital. Such forward-looking statements involve risks and uncertainties, both known and unknown. The results or events depicted in these forward-looking statements may differ materially from actual results or events. In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding and are implicit in, among other things: receipt of regulatory approvals, the Company’s ability to complete the Transaction and Placement, the state of the capital markets, the ability of the Company to successfully manage the risks inherent in pursuing business opportunities in the mineral exploration industry. Any forward-looking statement reflects information available to the Company as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
Neither the Canadian Securities Exchange (the “CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release