Tombill Mines Limited announced a private placement of 40,000,000 units at a price of CAD 0.015 per unit for gross proceeds of up to CAD 600,000 on October 5, 2023. Each unit will consist of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of CAD 0.05 for a period of sixty months after closing.

The company will include participation from certain insiders of the company for not more than 25% of the transaction. The completion of the transaction is subject to the acceptance of the TSX Venture Exchange. The securities issued pursuant to the transaction will be subject to a hold period of four months plus one day from the date of closing in accordance with applicable Canadian securities laws and the policies of the TSXV.

The company will not pay any commission or finder's fee in connection with the transaction.