Mr. James Rogers reports

TURMALINA METALS UPSIZES AND CLOSES BOOK ON PREVIOUSLY ANNOUNCED FINANCING

Turmalina Metals Corp. has upsized and closed the book on its previously announced private placement financing (see news release dated March 4, 2024). The financing, originally consisting of an issuance of 15 million units at a price of 10 cents per unit for total proceeds of $1.5-million, has been upsized to 20 million units at a price of 10 cents per unit for total proceeds of $2-million. The company anticipates closing the financing as soon as practicable. Closing remains subject to receipt of subscription proceeds and approval from the TSX Venture Exchange.

As previously disclosed, under the offering, each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase a common share at an exercise price of 15 cents for a period of two years from the date of issue.

The securities under the offering will be subject to restrictions on resale expiring four months and day after issue. The company may pay registered finders a fee in cash and/or share purchase warrants. The company intends to use the net proceeds to satisfy continuing costs associated with its properties as well as general working capital purposes.

We seek Safe Harbor.