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VANCOUVER, British Columbia, Oct. 15, 2021 (GLOBE NEWSWIRE) – First Tellurium Corp. (CSE: FTEL) (the “Company” or “First Tellurium”), announces that following its press release of October 4, 2021, it is increasing its private placement without intermediary (the “Offer”) So that it is now proposing to raise up to $ 2,000,000 by selling up to 25,000,000 units at a price of $ 0.08 / unit. Each unit consists of one common share and one common share purchase warrant, exercisable at a price of $ 0.12 per warrant share for a period of two years from the date of exercise. issuance of these warrants. The Company may pay a finder’s fee consisting of cash, shares and / or warrants to eligible discoverers, as permitted by applicable securities laws and CSE policies. The proceeds of this placement will be used for exploration programs on the Company’s properties, to pay unpaid accounts payable and for unallocated working capital.
1st Slice Close
First Tellurium also announces that it has closed the first tranche (the “First installment”) Of this offer. Under the first tranche, the Company issued 5,825,000 units for gross proceeds of $ 466,000. No commission or finder’s fees were paid in connection with the closing of the first tranche.
All securities issued under this first tranche closing are subject to a holding period expiring on February 16, 2022, in accordance with applicable securities laws and CSE policies.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any 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 “1933 Act”) or any state securities law and may not be offered or sold in the United States. United States or to US Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from a such recording is available.
About First Tellurium Corp.
First Tellurium’s unique business model is based on leveraging various partnerships to generate revenue and value. Working with Indigenous peoples, NGOs, governments and industry, First Tellurium explores metals in British Columbia and helps Indigenous communities develop and prosper through various industrial, social and environmental ventures.
First Tellurium proudly adheres to and supports the principles and rights set forth in the United Nations Declaration on the Rights of Indigenous Peoples and in particular the fundamental proposition of free, prior and informed consent. First Tellurium was a strong advocate for British Columbia Declaration on the Rights of Indigenous Peoples Act since its introduction and passage in the Legislative Assembly of British Columbia in November 2019. First Tellurium also supports federal Bill C-15, the The United Nations Declaration on the Rights of Indigenous Peoples Act.
|On behalf of the Board of Directors of
First Tellurium Corp.
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Neither the Canadian Securities Exchange nor its regulatory departments accept responsibility for the adequacy or accuracy of this release.
All statements included in this press release that deal with activities, events or developments that the Company expects, believes or anticipates will occur or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, its perception of historical trends, current conditions, expected future developments and other factors that it deems appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties which contribute to the possibility that predictions, forecasts, projections and other forward-looking statements may prove to be inaccurate, some of which are beyond the control of the Company. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or to revise them to reflect the occurrence of an unforeseen future event.