TinOne Resources Inc. announced a non-brokered private placement financing of up to 750 units at a price of CAD 1,000 per Unit for aggregate gross proceeds of up to CAD 750,000 on April 22, 2024. Each Unit shall consist of one 10% unsecured convertible debenture in the principal amount of CAD 1,000, and 9,090 common share purchase warrants. The Debentures will bear interest at a rate of 10% per annum from the issuance date.

The Debentures will mature on the date that is 36 months following the Issuance Date and the principal amount of each Debenture will be convertible into Common Shares at the option of the holder at any time prior to the Maturity Date, at a conversion price of CAD 0.11 per share subject to adjustment upon certain customary events. Each Warrant will entitle the holder thereof to acquire one Common Share for a period of three years from the Issuance Date at an exercise price equal to CAD 0.16 per Common Share. Closing of the Financing are subject to all necessary regulatory and stock exchange approvals, including the approval of the TSX Venture Exchange.

All securities issued in connection with the Financing will be subject to a statutory hold period expiring on the date that is four months and one day after the corresponding Issuance Date.