Turmalina Metals Corp. Announces Pricing of Public Offering of Units
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PRESS RELEASE
February 14, 2020
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR
DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
TURMALINA METALS CORP. ANNOUNCES PRICING OF PUBLIC OFFERING OF UNITS
Toronto, Ontario – Turmalina Metals Corp. (TSXV:TBX) (“Turmalina Metals Corp.” or the “Company”)
announces the size and price of its previously announ ced underwritten public offe ring (the “Offering”) of
12,143,000 units (the “Units”) of the Company at a price of $0.70 per Unit, for aggregate gross proceeds to
the Company of $8,500,100, before deducting the underwriting commission and estimated Offering expenses
payable by the Company. In addition, Turmalina has gr anted the underwriters of the Offering an option to
purchase up to an additional 1,821,450 Units on the same terms and conditions for a period of up to 30 days
from the closing of the Offering.
Each Unit will consist of one common share (a “Com mon Share”) and one-half Common Share purchase
warrant (each whole warrant, a “Wa rrant”). Each Warrant will entitle the holder to purchase one Common
Share at an exercise price of $0.90 for 24 months from the date of closing of the Offering.
Clarus Securities Inc. and Cormark Securities Inc. are acting as co-lead underwriters on behalf of themselves
and a syndicate of underwriters including Canaccord Genuity Corp. and PI Financial Corp. (collectively, the
“Underwriters”) in connection with the Offering.
The Offering is being conducted in the provinces of British Columbia, Alberta, Manitoba and Ontario (the
“Qualifying Jurisdictions”) by short form prospectus, and in such other jurisdictions as may be agreed to by
the Company and the Underwriters. An amended and restated prelimin ary short form prospectus (the
“Preliminary Prospectus”) will be file d in the Qualifying Jurisdictions. A final short form prospectus (the
“Final Prospectus”) relating to the Offering will be f iled in the Qualifying Jurisdictions. A copy of the
Preliminary Prospectus can be obtained from SEDAR at www.sedar.com.
The Offering is expected to close on or about February 27, 2020, subject to certain conditions including, but
not limited to, the receipt of all n ecessary approvals including the appr oval of the TSX Venture Exchange
(the “TSXV”). The proceeds raised from the sale of Units under the Offering will be used by the Company
for exploration and development of the San Francisc o Project, project assessment and evaluation, general
corporate and administrative costs and working capital purposes.
The securities being offered 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 press 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.
ABOUT TURMALINA METALS
Turmalina is a TSXV-listed explorer focused on developing our portfolio of high-grade gold-copper-silver-
molybdenum projects in South Ameri ca. Turmalina’s focus is on tour maline breccias, a deposit style
overlooked by mainstream exploration. Turmalin a projects are characterised by open high-grade
mineralisation on established mining licenses that present compelling drill targets. Turmalina is led by a team
responsible for several world-class gold-copper-molybdenum discoveries who are highly experienced in this
deposit style
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This news release contains "forward-looking information" which may include, but is not limited to,
statements with respect to expectations about the likelihood of completing the Offering, the use of proceeds
of the Offering and the ability of the Company to secu re required regulatory acceptances. Often, but not
always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is
expected", "budget", "scheduled", "estimates", "forec asts", "intends", "anticipates", or "believes" or
variations (including negative variations) of such words and phrases, or state that certain actions, events or
results "may", "could", "would", "might" or "will" be taken, occur or be achieved. A variety of factors,
including known and unknown risks, many of which are beyond our control, could cause actual results to
differ materially from the forward-looking information in this press release. Such factors include, without
limitation, the risk of failure to satisfy customary clos ing conditions of the Offering. Additional risk factors
can also be found in the Company's public filings under the Company's SEDAR profile at www.sedar.com.
Forward-looking statements contained herein are made as of the date of this press release and the Company
disclaims any obligation to update any forward-looking statements, whether as a result of new information,
future events or results or otherwise. There can be no assurance that forward-looking statements will prove
to be accurate, as actual results and future events co uld differ materially from those anticipated in such
statements. The Company undertakes no obligation to update forward-looking statements if circumstances,
management's estimates or opinions should change, except as required by securities legislation. Accordingly,
the reader is cautioned not to place undue reliance on forward-looking statements.
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.
For further information:
Bryan Slusarchuk
President
604-308-6525