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March 10, 2022 – Vancouver, British Columbia – Tisdale Resources Corp. (the “Company”) (TSXV: TRC) announces that it has revised the terms of its previously announced non-brokered private placement (the “Offering”) of convertible debentures (the “Debentures”).
The Company will continue to raise gross proceeds of up to $1,000,000, and the Debentures will continue to have a term of thirty-six months and will bear interest at a rate of twelve percent per annum payable on maturity. Each Debenture will now be convertible into units of the Company (each, a “Conversion Unit”), at the option of the holder, at a rate of one Conversion Unit for every $0.25 of outstanding indebtedness. Each “Conversion Unit” will consist of one common share of the Company and one common share purchase warrant exercisable at a price of $0.25 for a period of thirty-six months following closing of the Offering.
The proceeds of the Offering will be utilized by the Company for general working capital purposes.
In connection with completion of the Offering, the Company may pay finders’ fees to eligible third-parties who have introduced subscribers to the Company. All securities issued in connection with the Offering will be subject to a statutory hold period for four-months-and-oneday in accordance with applicable securities laws. Completion of the Offering remains subject to the approval of the TSX Venture Exchange.
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.
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the anticipated completion of the Offering and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.