Tier One Silver Completes First Phase of Private Placement Financing

Tier One Silver Inc., listed on TSXV and OTCQB, has successfully closed the first tranche of its non-brokered private placement. The company issued 5,183,333 units at C$0.075 each, collecting a total of C$388,749.98. Each unit comprises one common share and one warrant, which allows the purchase of additional shares at C$0.15 within three years. The firm plans a second tranche closure, pending TSX Venture Exchange approval.

The organization paid C$12,825 as cash finders' fees and distributed 171,000 non-transferable finders' warrants. Insiders acquired 2,000,000 units valued at C$150,000, considered a related party transaction.

Proceeds will be directed towards general working capital. A four-month plus one-day hold is applied to the issued securities in Canada, and the final regulatory approval is anticipated post-filing necessary documents.