Tier One Silver to Raise C$1.0 Million in Equity Financing

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BC / ACCESSWIRE / April 9, 2024 / Tier One Silver Inc. (TSXV:TSLV) ("Tier One" or the "Company") is pleased to announce that it is undertaking a private placement of up to 7,142,858 million units of the Company (each, a "Unit") at an offering price of C$0.14 per Unit (the "Unit Price") for gross proceeds to the Company of up to C$1,000,000 (the "Offering"). Each offered Unit consists of one common share of the Company (a "Share") and one full common share purchase warrant of the Company (each, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one common share of the Company at a price of C$0.25 at any time on or before the date which is 12 months after the closing date of the Offering (the "Closing Date").

The Warrants are subject to an accelerated expiry if, anytime following the date that is four months after the Closing Date, the closing price of the Shares on the TSX Venture Exchange ("TSXV"), or such other market as the Shares may trade from time to time, is or exceeds CDN$0.375 for any ten (10) consecutive trading days, in which event the holder of the Warrant may, at the Company's election, be given notice and the Company will issue a press release announcing that the Warrants will expire 30 days following the date of such press release. The Warrants may be exercised by the holder of the Warrant during the 30-day period between the date of the press release announcing the accelerated expiry date and the expiration of the Warrants.

The proposed use of proceeds from the Offering is to fund general working capital. 

In accordance with applicable securities laws, the Shares and Warrants issued under the Offering will be subject to a four-month and one day hold period from the date of issuance in Canada. Although the placement is not being brokered, the Company may pay a cash finder's fee equal to 6.0% of the gross proceeds and issue finder's warrants ("Finder's Warrants") equal to 6.0% of the number of Units sold under the Offering to eligible persons who refer participating investors to the Company, where permitted by applicable law and in accordance with the policies of the TSXV. Each Finder's Warrant will have the same terms as the Warrants.