Tombill Mines Announces $500,000 Private Placement to Fund Geraldton Projects

Tombill Mines Ltd. ( (TSE:TBLL) ) has shared an announcement.

Tombill Mines Ltd. announced a non-brokered private placement offering of up to $500,000, consisting of 50 million units priced at $0.01 each. The proceeds will be used for working capital and field work, particularly on the Geraldton property, with insiders expected to participate significantly in the offering. The completion of the offering is subject to TSX Venture Exchange approval, and the securities will have a hold period of four months plus one day.

More about Tombill Mines Ltd.

Tombill Mines Ltd., founded in 1935 by Newmont Mining and prospectors Tom and Bill Johnson, operates in the gold mining industry. The company owns two of the ten past-producing mines in the Geraldton gold district of north-central Ontario, Canada. Tombill’s holdings include 74 royalty-free mining claims, with significant infrastructure in place, and its properties are strategically located near major gold production sites.

Average Trading Volume: 101,992

Technical Sentiment Signal: Sell

Current Market Cap: C$2.22M

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