Stockwatch

Tesoro Minerals Corp
Symbol	TES
Shares Issued	87,017,549
Close 2023-05-04	C$ 0.025
Market Cap	C$ 2,175,439
Recent Sedar+ Documents

Tesoro reprices $250,000 private placement

2023-05-05 16:58 ET - News Release

Subject: TES.V Press Release for Immediate Dissemination PDF Document File: Attachment 2023 05 05 TES Announced financing re-pricing.pdf TESORO MINERALS CORP. Suite 108, 744 West Hastings Street Vancouver, British Columbia Canada V6C 1A5 TESORO MINERALS ANNOUNCES RE-PRICING OF PRIVATE PLACEMENT (Not for distribution to United States newswire services or for dissemination in the United States of America) May 5, 2023 (TSX Venture: TES) Due to current market conditions, Tesoro Minerals Corp., ("Tesoro" or the "Company") has re-priced the non-brokered private placement offering (the "Offering") previously announced on April 5, 2023. With the adjustment, the Company intends to now issue up to 10,000,000 common shares at a price of $0.025 for aggregate gross proceeds of approximately C$250,000.00. In addition, the closing of the Offering has been extended and is now anticipated to occur on or before May 31, 2023 (the "Closing Date") and continues to be subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the acceptance of the TSX Venture Exchange. The securities issued under the Offering will be subject to a statutory hold period in Canada expiring four months and one day from the Closing Date. A finder's fees may be payable in cash of up to 6% of the proceeds of the Private Placement in accordance with TSXV policies. The net proceeds of the offering are expected to be used by Tesoro for general working capital and operating expenses to support business efforts. About Tesoro The Company has assembled a team of experienced geoscientists with extensive exploration experience in the Americas with the aim of acquiring further assets. For further information on the Company please contact Scott McLean, Interim President & CEO at info@tesorominerals.com or (604) 210-2305. On Behalf of the Board of Directors "Scott McLean" Scott McLean Interim President & CEO Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the 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 "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration is available. Cautionary Statements regarding Forward-Looking Information Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. All statements including, without limitation, statements relating to the ability to complete the off ering on the proposed terms or at all, anticipated use of proceeds from the offering and receipt of regulatory approvals with respect to the offering as well as any other future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to the availability of capital and financing, general economic, market or business conditions, regulatory changes, the COVID - 19 pandemic or other similar health crisis, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly 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 otherwise required by applicable securities legislation. Word Document File: '\\swfile\EmailIn\20230505 134951 Attachment 2023 05 05 TES Announced financing re-pricing.docx' TESORO MINERALS CORP. Suite 108, 744 West Hastings Street Vancouver, British Columbia Canada V6C 1A5 TESORO MINERALS ANNOUNCES RE-PRICING OF PRIVATE PLACEMENT (Not for distribution to United States newswire services or for dissemination in the United States of America) May 5, 2023 (TSX Venture: TES) - Due to current market conditions, Tesoro Minerals Corp., ("Tesoro" or the "Company") has re-priced the non-brokered private placement offering (the "Offering") previously announced on April 5, 2023. With the adjustment, the Company intends to now issue up to 10,000,000 common shares at a price of $0.025 for aggregate gross proceeds of approximately C$250,000.00. In addition, the closing of the Offering has been extended and is now anticipated to occur on or before May 31, 2023 (the "Closing Date") and continues to be subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the acceptance of the TSX Venture Exchange. The securities issued under the Offering will be subject to a statutory hold period in Canada expiring four months and one day from the Closing Date. A finder's fees may be payable in cash of up to 6% of the proceeds of the Private Placement in accordance with TSXV policies. The net proceeds of the offering are expected to be used by Tesoro for general working capital and operating expenses to support business efforts. About Tesoro The Company has assembled a team of experienced geoscientists with extensive exploration experience in the Americas with the aim of acquiring further assets. For further information on the Company please contact Scott McLean, Interim President & CEO at info@tesorominerals.com or (604) 210-2305. On Behalf of the Board of Directors "Scott McLean" Scott McLean Interim President & CEO Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the 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 "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration is available. Cautionary Statements regarding Forward-Looking Information Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. All statements including, without limitation, statements relating to the ability to complete the offering on the proposed terms or at all, anticipated use of proceeds from the offering and receipt of regulatory approvals with respect to the offering as well as any other future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to the availability of capital and financing, general economic, market or business conditions, regulatory changes, the COVID-19 pandemic or other similar health crisis, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly 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 otherwise required by applicable securities legislation.