TRES-OR CLOSES SECOND TRANCHE OF PRIVATE PLACEMENT
Vancouver, B.C. – February 2, 2021 - Tres-Or Resources Ltd. (TSX-V: TRS) (the “Company”) is pleased to announce that, further to its news release of December 14, 2020 and January 28, 2021, it has closed the second tranche of its private placement of Common Share Units (the “CS Units”). In this closing, the Company issued 2,361,001 CS Units at a price of $0.15 per CS Unit for total gross proceeds of $354,150.15.
Each CS Unit consists of one common share (a “Share”) and one-half of one common share purchase warrant. Each whole warrant (a “Warrant”) entitles the holder to purchase an additional Share for a period of 24 months from the date of issue at a price of $0.20 per Share.
The gross proceeds from the issuance will be used solely for Canadian exploration expenses, property-related expenses and for general corporate and working capital.
All securities issued in this second tranche of the private placement are subject to a statutory hold period ending May 30, 2021 in accordance with applicable Canadian securities laws.
Kiboko Exploration Inc. participated in the private placement and acquired 666,667 Units and as of today’s date holds 2,000,000 common shares, representing 9.53% of the outstanding shares of the Company, and holds warrants to purchase up to 1,000,000 common shares which, if exercised, would result in Kiboko holding 13.6% of the outstanding common shares on a partially diluted basis.
About Tres-Or Resources Ltd.
Tres-Or Resources Ltd. is a Canadian resource company focused on exploring for diamonds and gold resources in the Témiscamingue and Abitibi regions of Québec and is listed on the TSX Venture Exchange under the trading symbol “TRS”. Additional information related to the Company is available on SEDAR and on the Company’s website(www.tres-or.com).
On behalf of the Board of Directors
“Laura Lee Duffett”
Laura Lee Duffett, P.Geo.
President and CEO
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.