TinOne Announces Convertible Debenture Interest Payment

Rhea-AI Summary

TinOne Resources (OTC:TORCF) elected to pay accrued interest on converted convertible debentures in common shares. On March 18, 2026, debentures with an aggregate value of $569,000 converted into 3,924,138 shares, and the company will issue 832,951 shares as interest payment at $0.13 per share, representing $108,283.58 in interest.

The issuance is subject to TSX Venture Exchange approval and the interest shares will have a four-month hold period from issuance.

Positive

• Interest paid in shares preserves $108,283.58 cash
• Conversion removed $569,000 of outstanding debentures

Negative

• Issuance of 832,951 shares causes shareholder dilution
• Interest share issuance awaits TSXV approval, creating timing uncertainty

Vancouver, British Columbia--(Newsfile Corp. - March 20, 2026) - TinOne Resources Inc. (TSXV: TORC) (OTC Pink: TORCF) (FSE: 57Z) ("TinOne" or the "Company") announces that under the terms of the convertible debentures (the "Convertible Debentures") issued on May 16, 2024 and June 11, 2024 (see news releases dated May 16, 2024 and June 11, 2024), it has elected to satisfy its obligation to pay accrued interest in shares of the Company on certain Convertible Debentures exercised on March 18, 2026.

Convertible Debenture Interest Payment

On March 18, 2026, Convertible Debentures having an aggregate value of $569,000 were converted into 3,924,138 common shares of the Company (the "Shares") at the election of the debenture holders. Pursuant to the terms of the Convertible Debentures, the Company has elected to pay an aggregate of $108,283.58 in interest accrued on the $569,000 of Convertible Debentures by issuing to such debenture holders for the interest payment (the "Interest Payment") an aggregate of 832,951 Shares at a price of $0.13 per Share.

The issuance of Shares in payment of interest remains subject to the approval of the TSX Venture Exchange (the "Exchange"). The Shares to be issued in respect of the Interest Payment will be subject to a hold period of four months from the date of issuance.

About TinOne

TinOne is a TSX Venture Exchange listed Canadian public company with a high-quality portfolio of tin projects in the Tier 1 mining jurisdictions of Tasmania, Australia. The Company is focussed on advancing its highly prospective portfolio while also evaluating additional tin opportunities.

Contact Information: For more information and to sign-up to the mailing list, please contact:

Chris Donaldson, Chief Executive Officer

Email: chris@tinone.ca

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS

This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or" should" occur or be achieved. All statements in this news release, other than statements of historical fact, including, without limitation, statements relating to the issuance of Shares and the receipt of acceptance by the TSX Venture Exchange are forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability of the Company to obtain acceptance by the TSX Venture Exchange. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. The Company does not assume any obligation to update these forward-looking statements should they change, except as required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/289376

FAQ

What did TinOne (TORCF) announce about convertible debenture conversions on March 18, 2026?

TinOne converted convertible debentures worth $569,000 into 3,924,138 common shares on March 18, 2026. According to the company, holders elected conversion and interest will be settled in shares at $0.13 per share.

How many shares will TinOne (TORCF) issue to pay accrued interest and at what price?

TinOne will issue an aggregate of 832,951 shares to cover $108,283.58 of accrued interest at $0.13 per share. According to the company, the share issuance is subject to TSXV approval.

Will the interest shares TinOne (TORCF) issues be restricted or freely tradeable?

The interest shares will be subject to a four-month hold period from issuance. According to the company, that hold period applies to the shares issued as the interest payment.

Does the interest share issuance for TinOne (TORCF) require regulatory approval and why does that matter?

Yes, the issuance requires approval from the TSX Venture Exchange, which matters because approval controls timing and final issuance. According to the company, shares will not be issued until the Exchange approves.

How does TinOne (TORCF) paying interest in shares affect its cash position?

Paying interest in shares conserves $108,283.58 of cash that would otherwise be paid in cash. According to the company, this was elected under the debenture terms for the converted $569,000 principal.