Vancouver, BC, Canada, Dec. 30, 2021 (GLOBE NEWSWIRE) — First Tellurium Corp. (CSE: FTEL) (the “Company” or “First Tellurium”), announces that it has closed a non-brokered private placement (the “Offering”) previously announced on December 16, 2021. The Company has issued 400,000 flow-through units for gross proceeds of $140,000.
Tyrone Docherty, President, CEO and a director of the Company (the “Insider”), participated in the Offering through the purchase by his private company, Docherty Capital Corp., of 350,000 flow-through units for gross proceeds of $122,500. Participation by the Insider in the Offering is considered a “related party transaction” pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the Insider’s participation in the Offering in reliance of sections 5.5(a) and 5.7(a) of MI 61-101, respectively, on the basis that participation in the Offering by the Insider did not exceed 25% of the fair market value of the Company’s market capitalization The Company did not file a material change report at least 21 days prior to the closing of the Offering as participation of the Insider had not been confirmed at that time.
No commissions or finder’s fees were paid in connection with the Fourth Tranche closing.
All securities issued are subject to a hold period expiring May 1, 2022, in accordance with applicable securities laws and the policies of the CSE.
Digital Marketing Contract
Further to the Company’s news release of November 17, 2021, it announces that it has expanded the initial marketing contract with Think Ink Digital Marketing (“Think Ink”) for consideration of USD$100,000 plus applicable taxes. Services provided by Think Ink include search engine marketing, search retargeting, email campaigns and social media optimization.
Think Ink is located at 3308 W Warner Ave, Santa Ana, CA 92704; tel 310-760-2616; contact
[email protected].
About First Tellurium Corp.
First Tellurium’s unique business model is to generate revenue and value through mineral discovery, project development, project generation and cooperative access to untapped mineral regions in Indigenous territory with sustainable exploration.
Our polymetallic (tellurium, gold, silver copper, tungsten) Deer Horn Project in British Columbia and Klondike tellurium-gold property in Colorado anchor a diversified search for metals, working in alliance with Indigenous peoples, NGOs, governments and leading metals buyers. This is the future of mineral exploration: generating revenue by exploring responsibly and leveraging diverse partnerships.
First Tellurium proudly adheres to and supports the principles and rights set out in the United Nations Declaration on the Rights of Indigenous Peoples and in particular the fundamental proposition of free, prior and informed consent.
On behalf of the board of directors of First Tellurium Corp. “Tyrone Docherty” Tyrone Docherty President and CEO | For further information please contact: Tyrone Docherty 604.789.5653 [email protected] |
Neither the Canadian Securities Exchange nor its regulations services accept responsibility for the adequacy or accuracy of this release.
Forward-looking information
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will 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, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. 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 revise them to reflect the occurrence of future unanticipated event.
