Mr. Chris Donaldson reports
TINONE ANNOUNCES CONVERTIBLE DEBENTURE INTEREST PAYMENT
Under the terms of the convertible debentures issued on May 16, 2024, and June 11, 2024 (see news releases dated May 16, 2024 and June 11, 2024), Tinone Resources Inc. has elected to satisfy its obligation to pay accrued interest in shares of the company on certain convertible debentures exercised on March 18, 2026.
Convertible debenture interest payment
On March 18, 2026, convertible debentures having an aggregate value of $569,000 were converted into 3,924,138 common shares of the company at the election of the debenture holders. Pursuant to the terms of the convertible debentures, the company has elected to pay an aggregate of $108,283.58 in interest accrued on the $569,000 of convertible debentures by issuing to such debenture holders for the interest payment an aggregate of 832,951 shares at a price of 13 cents per share.
The issuance of shares in payment of interest remains subject to the approval of the TSX Venture Exchange. The shares to be issued in respect of the interest payment will be subject to a hold period of four months from the date of issuance.
About Tinone Resources Inc.
Tinone is a TSX Venture Exchange-listed Canadian public company with a high-quality portfolio of tin projects in the Tier 1 mining jurisdictions of Tasmania, Australia. The company is focused on advancing its highly prospective portfolio while also evaluating additional tin opportunities.
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