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August 30, 2021 – Vancouver, British Columbia – Tisdale Resources Corp. (the “Company”) (TSXV: TRC) announces that it has closed the final tranche of its non-brokered private placement through the issuance of 357,727 units (each, a “Unit”) at a price of $0.44 per Unit for gross proceeds of $157,400. Each Unit consists of one common share and one common share purchase warrant exercisable to acquire an additional common share at a price of $0.55 until August 30, 2026. When combined with the initial tranche of the placement, the Company has raised $971,400 through the issuance of 2,207,727 Units.
No finders’ fees or commissions were paid in connection with closing of the placement. All securities issued in connection with the final tranche of the placement are subject to a statutory hold period until December 31, 2021 in accordance with applicable securities laws. The Private Placement included a subscription from an insider of the Company for an aggregate of 22,727 Units. This participation by an insider of the Company constitutes a “related party transaction” within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). For this transaction, the Company has relied upon the exemption from the formal valuation requirements contained in Section 5.5(a) of MI 61-101 and has relied upon the exemption from the minority shareholder approval requirements contained in Section 5.7(1)(a) of MI 61-101.
The Company intends to utilize the proceeds from the placement for general working capital purposes, and to complete a ZTEM survey of the primary target at its wholly-owned Keefe Lake Uranium Project. Keefe Lake is an advanced exploration project that covers an area of approximately 15,400 hectares, on the eastern side of the Athabasca Basin, in northeastern Saskatchewan, Canada.
For further information, contact Alex Klenman at info@tisdaleresources.com.
On behalf of the Board,
Tisdale Resources Corp.
Alex Klenman, Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.