Tribeca Resources Corporation announced a non-brokered private placement to issue 9,090,909 units at a price of CAD 0.33 for the gross proceeds of CAD 2,999,999.97 on July 11, 2023. The transaction will include participation from a group of sophisticated European investors, including one existing shareholder and two new investors, totaling CAD 2,150,000. Each unit will comprise one common share and one-half common share purchase warrant of the company.

Each warrant will entitle the holder thereof to purchase one additional common share at an exercise price of CAD 0.55 for a period of 24 months from the date of issuance of the warrant. In connection with the private placement, the company will pay a finder's fee comprising 6% in cash and 6% warrants to eligible finders, in accordance with applicable securities laws and the policies of the TSX Venture Exchange. The closing of the private placement is expected to occur on or about July, 14 2023, and is subject to customary closing conditions, including the receipt of all regulatory approvals, including the approval of the TSX-V. All securities issued pursuant to the private placement, including the common shares issued in consideration for services rendered in connection with introducing the company to investors, are subject to a four-month hold period.