Tribeca Resources Announces Non-Brokered Private Placement of up to C$2M with Indications of Interest from Sophisticated Investors
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TSXV TRBC OTCQB TRRCF 1 DELIVERING THE NEXT GENERATION
OF COPPER MINES IN CHILE
JUNE 13, 2024 | VANCOUVER, BC
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWS WIRES
Tribeca Resources Announces Non-Brokered Private Placement of up to
C$2M with Indications of Interest from Sophisticated Investors
Tribeca Resources Corporation (TSXV: TRBC) (OTCQB: TRRCF) (“ Tribeca Resources”, the
“Company”) is pleased to announce its intention to complete a non-brokered private
placement pursuant to which it will issue up to 6,666,667 common shares ("Shares") at a price
of C$0.30 per Share for aggregate gross proceeds of up to C$2,000,000 (the “ Private
Placement”).
The proceeds of the Private Placement will predominantly be used to fund:
Pre-drilling activities and an initial 1,500 metre drill program at the Company’s
Chiricuto project, which features a large geophysical anomaly that remains undrilled;
Advancement of the Company's La Higuera project ahead of Phase 3 drilling; and
Wider business development activities and for general corporate purposes.
The Company has received indications of interest from a small group of sophisticated
European and North American investors, for a significant proportion of the Shares to be
issued.
Tribeca Resources CEO, Dr Paul Gow commented:
“This additional capital, underpinned by indications of interest from three long-term
shareholders and one new investor, will ensure we are well financed to advance and drill test
the significant geophysical anomaly at the recently acquired Chiricuto project. The high
calibre of investors we have attracted reflects the exciting exploration potential at the
Chiricuto project and our team’s proven track-record at the La Higuera copper-gold project.”
In connection with the Private Placement, the Company will pay a finder's fee comprised of
6% in cash or Shares to eligible finders in accordance with applicable securities laws and the
policies of the TSXV. Closing of the Private Placement is expected to occur on or about July
3, 2024 and is subject to customary closing conditions, including receipt of all regulatory
approvals, including the approval of the TSXV.
All securities issued pursuant to the Private Placement, including the Shares issued in
consideration for services rendered in connection with introducing the Company to investors,
will be subject to a statutory hold period of four months and one day.
About Tribeca Resources
Tribeca Resources is a copper exploration company focused on discovering and developing
assets in the Coastal IOCG Belt of northern Chile. The company’s management team, whose
members are significant shareholders of the Company, has world-leading expertise and a
discovery history with iron oxide copper-gold deposits in the world’s great IOCG Belts of the
Carajás district in Brazil and the Gawler and Cloncurry provinces of Australia.
Tribeca Resources’ objective is to provide the mineral resources for the next generation of
copper mines in Chile. It is focused on building a portfolio of projects, with emphasis on mid
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TSXV TRBC OTCQB TRRCF 2 DELIVERING THE NEXT GENERATION
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to advanced-stage copper exploration and resource development projects. To this end,
mineral targets are regularly assessed in pursuit of acquisition, strategic exploration and
significant discovery.
Tribeca’s flagship property is the La Higuera IOCG project that comprises 4,147 hectares of
granted mining and exploration licences and is located towards the southern end of the
Chilean Coastal IOCG Belt in the Coquimbo Region of northern Chile. Further information
about the La Higuera Project can be found in the NI 43-101 Technical Report lodged by
Tribeca on SEDAR on 24 October 2022. Further, Tribeca holds an option to acquire a 100%
interest in the Chiricuto Property. Chiricuto hosts a rare undrilled iron oxide alteration system
in the Mantoverde – Santo Domingo district, located in the Atacama Region within the Chilean
Coastal IOCG Belt.
For more information, please contact:
Paul Gow Thomas Schmidt
CEO and Director President and Director
[email protected] [email protected]
+1 604 685 9316 +1 604 685 9316
Cautionary Note
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is
defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the
adequacy or accuracy of this press release.
This press release does not constitute or form a part of any offer or solicitation to purchase or
subscribe for securities in the United States. The securities referred to herein have not been
and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”),
or with any securities regulatory authority of any state or other jurisdiction in the United States,
and may not be offered or sold, directly or indirectly, within the United States or to, or for the
account or benefit of, U.S. persons, as such term is defined in Regulation S under the
Securities Act (“Regulation S”), except pursuant to an exemption from or in a transaction not
subject to the registration requirements of the Securities Act.
Forward Looking Information
This press release contains forward-looking statements and information that are based on the
beliefs of management and reflect the Company's current expectations. When used in this
press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan",
"predict", "may" or "should" and the negative of these words or such variations thereon or
comparable terminology are intended to identify forward-looking statements and
information. The forward-looking statements and information in this press release include
information relating to the ability of the Company to close the Private Placement on the timing and
terms described herein, or at all, the use of proceeds of the Private Placement, the operations of the
Company, the drilling programs, that the Company’s results have or will attract potential investors and
approval of the TSXV and any other regulatory bodies.
Such statements and information reflect the current view of the Company. By their nature,
forward-looking statements involve known and unknown risks, uncertainties and other
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TSXV TRBC OTCQB TRRCF 3 DELIVERING THE NEXT GENERATION
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factors, which may cause our actual results, performance or achievements, or other future
events, to be materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Such factors include, among
others, the following risks: new laws or regulations could adversely affect the business and
results of operations of the Company and anticipated work on the projects.
There are several important factors that could cause the Company’s actual results to differ
materially from those indicated or implied by forward-looking statements and information.
Such factors include, among others: reliance on key management; changes in the credit or
security markets; results of operation activities; unanticipated costs and expenses;
fluctuations in commodity prices; and general market and industry conditions. The Company
cautions that the foregoing list of material factors is not exhaustive. When relying on the
Company's forward-looking statements and information to make decisions, investors and
others should carefully consider the foregoing factors and other uncertainties and potential
events.
The Company has assumed that the material factors referred to in the previous paragraph
will not cause such forward-looking statements and information to differ materially from
actual results or events. The forward-looking information contained in this press release
represents the expectations of the Company as of the date of this press release and,
accordingly, is subject to change after such date. Readers should not place undue
importance on forward looking information and should not rely upon this information as of
any other date. While the Company may elect to, it does not undertake to update this
information at any particular time except as required in accordance with applicable laws.