First Tellurium announces private placement without intermediary;
THIS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR FOR DISTRIBUTION IN THE UNITED STATES
VANCOUVER, British Columbia, 04 Oct 2021 (GLOBE NEWSWIRE) – First Tellurium Corp. (CSE: FTEL) (the âCompanyâ or âFirst Telluriumâ), announces a non-middleman private placement to raise up to $ 1,600,000 through the sale of up to 20,000,000 units priced at $ 0.08 / unit. Each unit consists of one common share and one warrant exercisable at a price of $ 0.12 per warrant share for a period of two years following the closing of the offering. The Company may pay a finder’s fee consisting of cash, shares and / or warrants to eligible discoverers, as permitted by applicable securities laws and CSE policies. The proceeds of this offering will be used for exploration programs on the Company’s properties, to pay unpaid accounts payable and for unallocated working capital.
First Tellurium also announces that it has granted a total of 850,000 incentive stock options to directors, officers and consultants under the Company’s stock option plan. The options can be exercised at a price of $ 0.11 per share and expire on October 4, 2031.
About First Tellurium Corp.
First Tellurium’s unique business model is based on leveraging various partnerships to generate revenue and value. Working with Indigenous peoples, NGOs, governments and industry, First Tellurium explores metals in British Columbia and helps Indigenous communities develop and prosper through various industrial, social and environmental ventures.
First Tellurium proudly adheres to and supports the principles and rights set forth in the United Nations Declaration on the Rights of Indigenous Peoples and in particular the fundamental proposition of free, prior and informed consent. First Tellurium was a strong advocate for British Columbia Declaration on the Rights of Indigenous Peoples Act since its introduction and passage in the Legislative Assembly of British Columbia in November 2019. First Tellurium also supports federal Bill C-15, the The United Nations Declaration on the Rights of Indigenous Peoples Act.
|On behalf of the Board of Directors of
First Tellurium Corp.
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Neither the Canadian Securities Exchange nor its regulatory departments accept responsibility for the adequacy or accuracy of this release.
All statements included in this press release that deal with activities, events or developments that the Company expects, believes or anticipates will occur or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, its perception of historical trends, current conditions, expected future developments and other factors that it deems appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties which contribute to the possibility that predictions, forecasts, projections and other forward-looking statements may prove to be inaccurate, some of which are beyond the control of the Company. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or to revise them to reflect the occurrence of an unforeseen future event.