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Tombill Mines Announces Fully-Subscribed, Non-Brokered Private Placement

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Newsfile Corp.
·3 min read
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Vancouver, British Columbia--(Newsfile Corp. - March 4, 2021) -  Tombill Mines Limited (TSXV: TBLL) (the "Company" or "Tombill"), is pleased to announce its intention to complete a fully-subscribed private placement (the "Offering") of $1,500,000 with anticipated closing by month's end.

The Offering will be comprised of 6,521,739 units (each, a "Unit") at a price of $0.23 per Unit, for aggregate proceeds of $1,500,000. Each Unit will consist of one common share (a "Common Share") and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one Common Share of the Company at a price of $0.32 for a period of eighteen months after closing.

The Company intends to use the proceeds of the Offering for working capital and general corporate purposes.

Completion of the Offering is subject to the acceptance of the TSX Venture Exchange. The securities issued pursuant to the Offering will be subject to a hold period of four months plus one day from the date of closing. No commission or finder's fee will be paid in connection with the Offering.

About Tombill

Tombill owns various royalty-free mineral exploration and past-producing gold properties in the Geraldton and Beardmore Camp, Ontario. The Company's business is mineral exploration, primarily gold. It has 74 claims: 60 are owned and patented, five leased, and nine where it owns the mineral rights. Of these, the Tombill Main Group property comprises 58 claims: 54 owned patents, and four owned mineral rights. The Tombill Main Group claims were originally staked in the first Geraldton Gold Rush in the 1930's by Tom Johnson and his brother Bill.

For more information, please visit www.tombillmines.com, and contact:

Adam Horne
Chairman & Chief Executive Officer
Email: adam@tombillmines.com / Tel: +44 (0) 207 529 2351

Reda Jalabi
Strategic Development & Investor Relations
Email: reda@tombillmines.com / Tel: +44 (0) 207 529 2361

Cautionary Note Regarding Forward-Looking Information

Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the trading date of the Company's common shares on the TSXV. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

Additional information identifying risks and uncertainties is contained in filings by the Company with the Canadian securities regulators, which filings are available at www.sedar.com.

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

(NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES)

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/76069