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TIN Tincorp Metals Inc

0.25
0.00 (0.00%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Tincorp Metals Inc TSXV:TIN TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.25 0.25 0.30 0.29 0.25 0.29 2,000 21:02:00

Eurotin Inc. Completes $835,000 Private Placement

10/03/2014 8:00pm

Marketwired Canada


NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES


Eurotin Inc. (TSX VENTURE:TIN) ("Eurotin" or the "Company"), is pleased to
announce that the Company has completed a private placement for gross proceeds
of $835,000 through the issuance of 16,700,000 common shares at a price of $0.05
per share.


In connection with the private placement, the Company has paid to PowerOne
Capital Markets Limited a cash commission of $27,600 and issued warrants to
purchase up to 1,002,000 common shares at a price of $0.05 per common share for
a period of two years.


Certain subscribers to the private placement were non-arm's length parties. The
securities issued under the private placement will be subject to a hold period
expiring on July 7, 2014.


The Company may complete additional placements for cash at $0.05 over the next
several weeks. In addition, the Company intends to complete debt conversion with
certain creditors of the Company whereby certain payables of the Company will be
converted into common shares at a deemed issue price of $0.05 per common share.
The Company anticipates that up to approximately $700,000 of debt will be
converted into common shares, the majority of which will be issued to the
drilling company which completed the Company's drill program on its Oropesa
property in 2013.


The Company intends to use the net proceeds from the Offering to continue
development of the Oropesa tin project and for general working capital purposes.


Forward looking statements

This press release includes certain forward-looking statements within the
meaning of Canadian securities laws that are based on the expectations of the
Company as of the date of this press release. There can be no assurance that
such statements will prove accurate, and actual developments are likely to
differ, in some case materially, from those expressed or implied by the
forward-looking statements contained in this press release.


Forward-looking statements contained in this press release are based on a number
of assumptions that may prove to be incorrect, including, but not limited to,
the terms of the Offering, the planned use of the proceeds, the receipt of all
regulatory approvals, general market conditions, general economic conditions,
the timing of the closing of the Offering and changes in the laws, rules and
regulations applicable to the Company. In addition to being subject to a number
of assumptions, forward-looking statements in this press release involve known
and unknown risks, uncertainties and other factors that may cause actual
developments to be materially different from those expressed or implied by such
forward-looking statements. The Company has no intention, nor obligation, to
update the forward-looking statements contained in this press release. Readers
of this press release are cautioned not to place undue reliance on any such
forward-looking statements.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Eurotin Inc.
Trevor Richardson
CEO
416 918-2242

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