Tombill Mines (TBLL) has closed the first tranche of a brokered private placement for gross proceeds of approximately $1.625M.
The first tranche consisted of 10,125,000 units priced at $0.08 per HD unit and 9,055,533 flow-through units priced at $0.09 per FT unit.
Prior to the end of January 2022, the company anticipates closing the final tranche consisting of HD units.
Each HD unit consists of one common share and one common share purchase warrant. Each warrant is exercisable to acquire one share until December 31, 2023, at an exercise price of $0.12.
Each FT unit consists of one flow-through common share and one-half of one common share purchase warrant. Each whole FT warrant is exercisable to acquire one common share until December 31, 2023, at an exercise price of $0.13.
The net proceeds will be used to fund the company’s exploration activities, and for general corporate purposes.
All securities issued are subject to a statutory four-month hold period. The offering is subject to the final acceptance of the TSXV.
Tombill is a mineral exploration company that owns various royalty-free mineral exploration and past-producing gold properties in the Geraldton and Beardmore Camp, Ontario.
Tombill Mines Limited (TBLL) is unchanged on the day, trading at C$0.10 per share at 11:45 am EST.