Tesoro Minerals raises private placement target to $750,000

Tesoro Minerals Corp. (TSXV: TES) has increased the size of its non-brokered private placement from $600,000 to $750,000 in gross proceeds, according to a statement from the Vancouver-based company.

The placement will consist of up to 7,500,000 common shares priced at $0.10 per share. The company cited additional investor interest following its initial announcement on September 3, 2026, as the reason for the increase.

A finder's fee of up to 6% of gross proceeds raised from certain purchasers may be paid in cash, subject to TSX Venture Exchange policies and applicable securities laws.

The company plans to use net proceeds to advance its Rumichaca and Cerro Macho properties in Peru. Planned expenditures include initial fieldwork, geological mapping and sampling, IP ground geophysical surveys, and community and stakeholder engagement. A portion will also be allocated to general working capital.

All shares issued will be subject to a four-month and one-day hold period from the date of issuance under Canadian securities laws. The placement remains subject to regulatory approval, including from the TSXV, and may close in one or more tranches.

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