Vancouver, Jan. 20, 2022 - TinOne Resources Inc.
(TSXV:TORC) ("TinOne" or the "Company") is pleased to announce the appointment of Mr. Ben Meka as the Company's Vice President of Corporate Development, effective January 20, 2022.
Mr. Meka is a mechanical engineer with over 8 years of experience working in both pre-producing and operating mines. He is currently a member of the corporate development team at Inventa Capital. Prior to joining Inventa Capital, Mr. Meka's focus was on the design and execution of fixed priced projects across North America and Australia. During his latter tenure with Ausenco Engineering he was on secondment to Resource Capital Funds. Mr. Meka has a Bachelor of Mechanical Engineering BE (Hons) from Queensland University of Technology.
Michael Konnert, TinOne's Executive Chairman, commented: "The addition of Ben to the TinOne team is the latest step in rounding out an already fantastic group. Ben's experience in project execution and corporate development will serve to support and enhance TinOne's efforts in building a diversified portfolio of advanced tin and gold projects in Tier 1 mining jurisdictions globally. Drilling preparations are underway at our Panama gold project, and a bolstering tin market coincides nicely with our growing portfolio of resource-stage tin projects in Tasmania and exploration licences in New South Wales. The Company is fully funded for 2022 work programs, and we are incredibly excited to begin exploration at these projects."
Great Pyramid and Aberfoyle Tin Projects
The Company is also pleased to announce that it has issued 1,226,775 common shares (the "Consideration Shares") on January 19, 2022 to settle a A$400,000 payment due to Red Dirt Metals Limited ("Red Dirt") pursuant to the Tenement Sale Agreement between the Company and Red Dirt for the Great Pyramid and Aberfoyle mining tenements in northeastern Tasmania, Australia. The Consideration Shares were issued at a deemed value of $0.2943 per Consideration Share, being the five-day volume weighted average price of the Company's common shares. The Consideration Shares issued are subject to a statutory four month hold period expiring on May 21, 2022.
Stock Option Grant
The Company also announces that it has granted, subject to regulatory approval, 2,700,000 incentive stock options to certain directors, officers, and consultants of the Company. The options are exercisable at a price of $0.28 per share, have a term of five years, and will vest over a period of 24 months.
About the TinOne
TinOne is a TSX Venture listed Canadian public company with a high-quality portfolio of tin and gold projects in the Tier 1 mining jurisdictions of Tasmania and New South Wales, Australia. The company is focussed on advancing its highly prospective portfolio through aggressive exploration programs.
Contact Information: For more information and to sign-up to the mailing list, please contact:
Michael Konnert, Executive Chairman
Tel: (604) 364-2215
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS
This news release includes certain "Forward?Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward?looking information" under applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and similar words or expressions, identify forward?looking statements or information. These forward?looking statements or information relate to, among other things: the development of the Company's projects, including drilling programs and mobilization of drill rigs; future mineral exploration, development and production; and completion of a maiden drilling program.
Forward?looking statements and forward?looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of TinOne, future growth potential for TinOne and its business, and future exploration plans are based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of gold and other metals; no escalation in the severity of the COVID-19 pandemic; costs of exploration and development; the estimated costs of development of exploration projects; TinOne's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.
These statements reflect TinOne's respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward?looking statements or forward-looking information and TinOne has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the Company's dependence on early stage mineral projects; metal price volatility; risks associated with the conduct of the Company's mining activities in Australia; regulatory, consent or permitting delays; risks relating to reliance on the Company's management team and outside contractors; risks regarding mineral resources and reserves; the Company's inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of COVID-19; the economic and financial implications of COVID-19 to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company's interactions with surrounding communities and artisanal miners; the Company's ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified under the caption "Risk Factors" in TinOne's management discussion and analysis. Readers are cautioned against attributing undue certainty to forward?looking statements or forward-looking information. Although TinOne has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. TinOne does not intend, and does not assume any obligation, to update these forward?looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.