Tri Capital Opportunities Corp. Increases Private Placement
June 10 2021 - 5:15PM
Tri Capital Opportunities Corp. (“
TCAP” or the
“
Company”) (TSXV: TCAP.P), a capital pool company,
is pleased to announce that, further to its news release dated May
13th, 2021, the Company has increased its non-brokered private
placement in connection with its Qualifying Transaction to up to
CDN $800,000 (the "
Concurrent Financing").
The Company will issue up to 8,000,000 units of
the Company (“Units”) at a price of $0.10 per unit
for gross proceeds of up to CDN $800,000. Each Unit will be
comprised of one common share (each, a “Share”)
and one-half of one common share purchase warrant. Each full
warrant (each, a “Warrant”) will entitle the
holder thereof to purchase an additional Share at a price of
CDN$0.15 per Share for a period of 3 years from the date of issue.
Finders’ fees may be paid on all or a portion of the financing.
The net proceeds from the Concurrent Financing
will be used by TCAP to finance the recommended work program on the
Pine Channel Property and for general working capital. All
securities issued pursuant to the Concurrent Financing will be
subject to a four month hold period from the date of issue and may
be subject to escrow in accordance with the policies of the TSX
Venture Exchange.
About
TCAP:
TCAP is designated as a Capital Pool Company by
the Exchange. TCAP has not commenced commercial operations and has
no assets other than cash. The only business of TCAP is the
identification and evaluation of assets or businesses with a view
to completing a “Qualifying Transaction” in accordance with
Exchange Policy 2.4 – Capital Pool Companies.
Further details concerning the Pine Channel
Property, the Option Agreement and the Concurrent Financing will be
disclosed in a filing statement to be prepared by TCAP and filed on
SEDAR.
Tri Capital Opportunities Corp. “Jim
Pettit”_________________________James Pettit CEO
For further information please contact:
Tri Capital Opportunities Corp. Kelly Pladson, Corporate
SecretaryEmail: kpladson@sentinelmarket.com Tel: (604) 639-3857
Neither the Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the Exchange)
accepts responsibility for the adequacy or accuracy of this
release.
Cautionary
Statements Regarding
Forward-Looking Information:
This press release contains forward-looking
information within the meaning of Canadian securities laws. Forward
looking information is typically identified by words such as:
“believe”, “expect”, “anticipate”, “intend”, “estimate”,
“postulate” and similar expressions, or are those, which, by their
nature, refer to future events. TCAP cautions investors that any
forward-looking information provided by TCAP is not a guarantee of
future results or performance, and that actual results may differ
materially from those in forward looking information as a result of
various factors.
The forward-looking statements contained in this
press release are made as of the date of this press release. TCAP
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
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