Placement”) for gross proceeds of up to $250,000 through the sale of up to 5,000,000 units (the
TESORO MINERALS CORP.
Suite 615, 800 West Pender Street
Vancouver, British Columbia
Canada V6C 2V6
TESORO MINERALS ANNOUNCES $250,000 PRIVATE PLACEMENT
(Not for distribution to United States newswire services or for dissemination in the
United States of America)
August 6, 2021 (TSX Venture: TES) – Tesoro Minerals Corp., (“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 $250,000 through the sale of up to 5,000,000 units (the
"Units") at a price of $0.05 per Unit (all dollar amounts in Canadian dollars). Each Unit will consist
of one common share (a "Share") and one transferrable common share purchase warrant (a
“Warrant”). Each Warrant will entitle the holder to purchase one additional Share at a price of
$0.10 per Share for a period of two years from the closing date. The Shares, Warrants and any
Shares issued on the exercise of the Warrants, will be subject to a four month restricted resale
period in accordance with the policies of the TSX Venture Exchange (“TSXV”) and applicable
securities laws.
A finder’s fee, comprising cash, broker’s warrants, or a combination thereof, may be paid on a
portion of the Private Placement in accordance with TSXV policies. Closing of the Private
Placement is subject to certain customary conditions, including the receipt of TSXV approval.
The net proceeds of the offering are expected to be used by Tesoro for general working capital
and operating expenses to support business efforts.
About Tesoro
The Company has assembled a team of experienced geoscientists with extensive exploration
experience in the Americas with the aim of acquiring further assets. For further information on the
Company please contact Scott McLean, Interim President & CEO at [email protected] or
(604) 710-2140.
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 with 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.