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VANCOUVER, British Columbia, July 15, 2021 (GLOBE NEWSWIRE) — Tri Capital Opportunities Corp. (“TCAP” or the “Company”) (TSXV: TCAP.P), a capital pool company, is pleased to announce that, further to its news releases dated May 13th, 2021 and June 10th, 2021, the Company has further increased its non-brokered private placement in connection with its Qualifying Transaction to up to CDN $1,027,000 (the “Concurrent Financing“).
The Company will issue up to 10,270,000 units of the Company (“Units”) at a price of $0.10 per unit. 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.
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.
For further information please contact:
Tri Capital Opportunities Corp.
Kelly Pladson, Corporate Secretary
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.