A finder’s fees may be payable in cash of up to 6% of the proceeds of the Private Placement in accordance with TSX Venture Exchange ("TSX-V") policies.
TESORO MINERALS CORP.
Suite 1005, 409 Granville Street
Vancouver, British Columbia V6C 1T2
TESORO MINERALS ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
(Not for distribution to United States newswire services or
for dissemination in the United States of America)
July 25, 2024, Vancouver, British Columbia - Tesoro Minerals Corp., (TSXV: TES) ("Tesoro" or
the "Company") is pleased to announce it intends to complete a non- brokered private placement
(the "Private Placement ") for gross proceeds of up to $350 ,000 through the sale of up to 1 7,500,000
common shares (the " Shares ") at a price of $0.02 per share (all dollar amounts in Canadian dollars).
A finder’s fees may be payable in cash of up to 6% of the proceeds of the Private Placement in
accordance with TSX Venture Exchange ("TSX-V") policies.
The net proceeds of the Private Placement are expected to be allocated by the Company for general
working capital and operating expenses to support business efforts. Additionally, 10% will be allocated to
carry out a community engagement plan to address concerns and educate the local population on the
impacts and benefits of the Company 's activities. It is important to note that none of the proceeds will be
utilized for Investor Relations Activities, and no payments will be made to Non-Arm’s Length Parties of the
Issuer.
All securities issued under the Private Placement are subject to a four month and one-day restricted resale
period from the date of the close in accordance with the policies of the TSX-V and applicable securities
laws.
Closing of the Private Placement is subject to certain customary conditions, including the receipt of TSX-V
approval.
About Tesoro Minerals Corp.
The Company has assembled a team of experienced geoscientists with extensive exploration experience
in the Americas to acquire further assets.
For further information:
Scott McLean
Interim President & CEO
Email- [email protected]
www.tesorominerals.com
On Behalf of the Board of Directors
“Scott McLean”
Scott McLean
Interim President & CEO
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the
adequacy or accuracy of this release. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of
the securities in the United States of America. The securities have not been and will not be registered under the United States Securities
Act of 1933 (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S.
Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or
an exemption from such registration is available.
Cautionary Statements regarding Forward-Looking Information
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or
future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar
expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are
based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may
differ materially.
All statements including, without limitation, statements relating to the ability to complete the offering on the proposed terms or at all,
anticipated use of proceeds from the offering and receipt of regulatory approvals with respect to the offering as well as any other future
plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. There
can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from
those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or
expectations include risks relating to the availability of capital and financing, general economic, market or business conditions,
regulatory changes, the COVID-19 pandemic or other similar health crisis, timeliness of government or regulatory approvals and other
risks detailed herein and from time to time in the filings made by the Company w ith securities regulators. The Company expressly
disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future
events or otherwise except as otherwise required by applicable securities legislation.