TINONE RESOURCES INC (TSE:TORC) has released an update.
TinOne Resources Inc. has successfully completed the initial tranche of its non-brokered private placement, raising C$611,000 through the issuance of convertible debt units. These units include 10% unsecured convertible debentures and share purchase warrants, with the funds earmarked for exploration drilling, working capital, and general corporate purposes. The transaction, which is subject to standard regulatory and stock exchange approvals, includes convertible debentures with an interest rate of 10% per annum and warrants exercisable within three years.
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