VANCOUVER, British Columbia, Feb. 05, 2019 (GLOBE NEWSWIRE) --
NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES NOR FOR DISSEMINATION IN THE UNITED STATES OF
AMERICA
Tesoro Minerals Corp. (“Tesoro” or the “Company”) is pleased to announce that it has completed its previously
announced non-brokered private placement financing (the “Private Placement”) raising aggregate gross proceeds of $265,500 by the
issuance of 5,310,000 units at $0.05 per unit (all dollar amounts in CAD$). Each Unit consists of one common share (a "Share") and
one transferable common share purchase warrant (each whole 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 date hereof.
In connection with the Private Placement, the Company paid a finder’s fee in respect of subscribers introduced
to the Company, which consisted of a cash payment of $15,930.
The net proceeds of the Private Placement are expected to be used by Tesoro for general working capital and
operating expenses to support business efforts.
The Private Placement is subject to final acceptance by the TSX Venture Exchange. All securities issued under
the Private Placement are subject to a four month and one-day restricted resale period expiring on June 6, 2019 in accordance with
the policies of the TSX Venture Exchange and applicable securities laws.
About Tesoro
The Company has assembled a team of experienced geoscientists with extensive exploration experience in the Americas with
the aim of acquiring other assets. For further information on the Company please contact Peter Tegart, President & CEO
at peter.tegart@gmail.com or at (604) 349-1244.
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.