Tincorp Closes Private Placement
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Tincorp Closes Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
Vancouver, British Columbia –December 12, 2024 – Tincorp Metals Inc. (“Tincorp”
or the “Company”) (TSXV: “TIN”; OTCQX: “TINFF”) today announced the closing of its
previously announced non-brokered private placement, whereby the Company issued a
total of 1,244,445 common shares of the Company (“Shares”) at a price of $0.1125 per
Share for gross proceeds of $140,000 (the “Offering”).
The Company intends to use the net proceeds from the Offering for working capital
requirements and other general corporate purposes.
The Offering was conducted in reliance upon available exemptions from the prospectus
requirements of applicable Canadian securities laws. All securities issued will be subject
to a statutory four-month and one-day hold period from the closing date. The Offering is
subject to the final acceptance by the TSX Venture Exchange.
The participation by an insider of the Company in the Offering for $140,000 constitutes a
“related party transaction” for the purposes of Multilateral Instrument 61-101 – Protection
of Minority Securityholders in Special Transactions ("MI 61 -101"), which has been
adopted by the TSX Venture Exchange pursuant to its Policy 5.9 - Protection of Minority
Security Holders in Special Transaction . The Company relied on an exemption from the
formal valuation and minority shareholder approval requirements contained in sections
5.5(a) and 5.7(a) of MI 61-101 in respect of such insider’s participation, as the fair market
value of the insider’s participation did not exceed 25% of the Company’s market
capitalization.
The securities described herein have not been, and will not be, registered under the
United States Securities Act of 1933, as amended (the “ U.S. Securities Act ”), or any
United States state securities laws, and accordingly, may not be offered or sold within the
United States or to U.S. persons except in compliance with the registration requirements
of the U.S. Securities Act and applicable state securities requirements or pursuant to
exemptions therefrom. This press release is not an offer or a solicitation of an offer of
securities for sale in the United States, nor will there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful.
Tincorp Metals Inc.
1750 - 1066 West Hastings Street
Vancouver, BC, Canada V6E 3X1
Telephone: (604) 336-5919
www.tincorp.ca
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About Tincorp
Tincorp Metals Inc. is a mineral exploration company focusing on tin projects in Bolivia and a gold
project near Whitehorse, Yukon, Canada. The Company acquired a 100% interest in the Porvenir
Project and SF Tin Project, which are 70 km southeast of Oruro, Bolivia. The Company’s 100%
owned Skukum Gold Project is approximately 84 km south of Whitehorse by road. An independent
mineral resource estimate update in re spect of the Skukum Gold Project was completed in
October 2022.
On Behalf of Tincorp Metals Inc.
Victor Feng, Interim CEO
For further information, please contact:
Investor Relations, Tincorp Metals Inc.
Phone: +1 (604)-336-5919
Email: [email protected]
www.tincorp.com
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 news release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward -looking statements and forward-looking information
(collective, “forward looking statements”) within the meaning of applicable Canadian and U.S.
securities legislation. All statements, other than statements of historical fact included in this
release, including, without limitation, statements regarding final approval of the private placement
by the TSX Venture Exchange are forward-looking statements. Forward-looking statements are
often, but not always, identified by words or phrases such as “expects”, “is expected”, “anticipates”,
“believes”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategies”, “targets”, “goals”,
“forecasts”, “objectives”, “budgets”, “schedules”, “potential” or variations thereof or stating that
certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be
achieved, or the negative of any of these terms and similar expressions. Forward -looking
statements are based on the opinions, assumptions, factors and estimates of management
considered reasonable at the date the statements are made.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company
undertakes no obligation to update any of the forward-looking statements in this news release or
incorporated by reference herein, except as otherwise required by law.
Additional information in relation to the Company, including the Company’s most recent annual
information form, can be obtained under the Company’s profile on SEDAR+
at www.sedarplus.ca and on the Company’s website at www.tincorp.com.