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VANCOUVER, British Columbia, Oct. 15, 2021 (GLOBE NEWSWIRE) -- First Tellurium Corp. (CSE: FTEL) (the “Company” or “First Tellurium”), announces that further to its press release of October 4, 2021, it is increasing its non-brokered private placement (the “Offering”) such that it proposes to now raise up to $2,000,000 through the sale of up to 25,000,000 units at a price of $0.08/unit. Each unit consists of one common share and one common share purchase warrant exercisable at $0.12 per warrant share for a period of two years from the date of issue of such warrants. The Company may pay a finder’s fee consisting of cash, shares and/or warrants to eligible finders as permitted under applicable securities laws and CSE policies. Proceeds from this Offering will be used for exploration programs on the Company’s properties, to pay outstanding accounts payable and for unallocated working capital.

1^st Tranche Close

First Tellurium also announces that it has closed the first tranche (the “First Tranche”) of this Offering. Under the First Tranche, the Company has issued 5,825,000 units for gross proceeds of $466,000. No commissions or finder’s fees were paid in connection with the First Tranche closing.

All securities issued under this First Tranche closing are subject to a hold period expiring February 16, 2022, in accordance with applicable securities laws and the policies of the CSE.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.

About First Tellurium Corp.
First Tellurium’s unique business model is based on leveraging diverse partnerships to generate revenue and value. Working with Indigenous peoples, NGOs, governments and industry, First Tellurium explores for metals in British Columbia and helps indigenous communities grow and thrive through various industrial, social and environmental ventures.

First Tellurium proudly adheres to and supports the principles and rights set out in the United Nations Declaration on the Rights of Indigenous Peoples and in particular the fundamental proposition of free, prior and informed consent. First Tellurium has been a vocal advocate of the BC Declaration on the Rights of Indigenous Peoples Act since its introduction and passage in the British Columbia legislature in November 2019. First Tellurium also supports federal Bill C-15, the United Nations Declaration on the Rights of Indigenous Peoples Act.

Neither the Canadian Securities Exchange nor its regulations services accept responsibility for the adequacy or accuracy of this release.

Forward-looking information
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated event.