DEALS AND SUITS

Turmalina Metals Corp. completes C$9.8 million public offering

Date closed: 2/28/2020

Value: C$9.8 million

On February 28, 2020, Turmalina Metals Corp. (TSXV:TBX) (Turmalina Metals Corp. or the Company) completed its overnight marketed public offering (the Offering) and has issued an aggregate of 13,964,450 units (Units), including 1,821,450 Units issued pursuant to the full exercise of the underwriters’ over-allotment option, at a price of $0.70 per Unit for gross proceeds to the Company of $9,775,115.

Each Unit was composed of one common share in the capital of the Company (a Common Share) and one-half of one common share purchase warrant (each full warrant, a Warrant). Each Warrant entitles the holder to purchase one additional Common Share of the Company at an exercise price of $0.90 per Common Share until February 28, 2022.

The Offering was underwritten by a syndicate of underwriters co-led by Clarus Securities Inc. and Cormark Securities Inc. and including Canaccord Genuity Corp. and PI Financial Corp. The proceeds raised under the Offering will be used by the Company for exploration and development of its San Francisco Project, project assessment and evaluation, general corporate and administrative costs and working capital purposes.

Turmalina, headquartered in Vancouver, British Columbia, is an explorer focused on developing a portfolio of high-grade gold-copper-silver-molybdenum projects in South America.

BLG represented the underwriters with a team led by Andrew Powers that included Krstina Skocic and Jonas Farovitch.

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