Turmalina Announces Up-Sizing of Financing to $5,000,000 and Closes Book
LEGAL_40638946.1
February 6, 2023
Turmalina Announces Up-Sizing of Financing to $5,000,000 and
Closes Book
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES
Vancouver, BC - Turmalina Metals Corp. (“Turmalina”, or the “ Company”; TBX-TSXV, TBXXF-OTCQX,
3RI-FSE) is pleased to announce that it is increasing the maximum number of units of the Company
(the “Units”) in connection with its previously disclosed non-brokered private placement (the
“Offering”) to 11,111,111 Units at a price of $0 .45 per Unit for aggr egate gross proceeds of u p to
$5,000,000. All other terms of the Offering remain the same.
CEO and Director, Mr. James Rogers, states, “The strong response to this private placement and the
upsizing of the financing to the maximum amo unt allowable to the Company under this exemption is
reflective of the strength of the projects and the technical team advancing these assets. We look
forward to updating investors as we advance at both San Francisco in San Juan, Argentina and at
Chanape in Peru.”
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 pursuant to the listed issuer financing exemption under Part 5A of
National Instrument 45-106 Prospectus Exemptions and therefore the securities issued in the Offering
will not be subject to a hold period in accordance with applicable Canadian securities laws. There is an
offering document related to the Offering that will be available under the Company 's profile at
www.sedar.com and at https://turmalinametals.com/. Prospective investors should read this offering
document before making an investment decision. Additionally, the Company will be uploading an
amended and restated offering document, which will account for the increase in the size of the
Offering and provide additional information to the offering document dated January 31, 2023, which
has been previously made available.
The securities to be issued pursuant to the Offering have not, nor will they be registered under the
United States Securities Act of 1933, as amended, and may not be offered or sold within the United
States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an
applicable exemption from the U.S. registration requirements. This news release shall not constitute
an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the
United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
On Behalf of the Company,
LEGAL_40638946.1
James Rogers, Chief Executive Officer and Director.
Website: turmalinametals.com
Address: #488 - 1090 West Georgia St, Vancouver, BC V6E 3V7.
For Investor Relations enquiries, please contact +1 833 923 3334 (toll free) or via
Statements
About Turmalina Metals: Turmalina Metals is a TSXV- listed exploration company focused on developing our
portfolio of high -grade gold-copper-silver projects in South America. Our focus is on tourmaline breccias, a
deposit style overlooked by many explorers. Turmalina Metals is led by a team responsible for multiple gold -
copper-silver discoveries who are highly experienced in this deposit style. Our projects are characterised by open
high-grade minerali zation on established mining licenses that present compelling drill targets. The flagship
project held by Turmalina is the San Francisco project in San Juan, Argentina. For further information on the San
Francisco Project, refer to the technical report entitled “NI43- 101 Technical Report San Francisco Copper Gold
Project, San Juan Prov ince, Argentina” dated November 17, 2019 under the Corporation’s profile at
www.sedar.com.
Forward Looking Statement: This news release includes certain statements that may be deemed “forward -
looking statements”. All statements in this news release, other than statements of historical facts, that address
events or developments that the Company expects to occur, are forward-looking statements. Forward -looking
statements are statements that are not historical facts and are generally, but not always, identified by the words
“expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar
expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the
Company believes the expectations expressed in such forward -looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual results may differ materially
from those in the forward -looking statements. Factors that could cause the actual results to differ materially
from those in forward-looking statements include market prices, continued availability of capital and financing,
and general economic, market or business conditions. Investors are cautioned that any such statements are not
guarantees of future performance and actual results or developments may differ materially from those
projected in the forward -looking statements. Forward -looking statements are based on the beliefs, estimates
and opinions of the Company’s management on the date the statements are made. Except as required by
applicable securities laws, the Company undertakes no obligation to update these forward- looking statements
in the event that management's beliefs, estimates or opinions, or other factors, should change.
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 or has in any way
approved or disapproved of the contents of this press release.