Vancouver, British Columbia--(Newsfile Corp. - July 30, 2026) - Tower Resources Ltd. (TSXV: TWR) ("Tower" or the "Company") announces that it has entered into a consulting agreement with Simone Capital Corp. ("Simone Capital") dated July 29, 2026 and effective August 1, 2026 (the "Consulting Agreement"). Under the Consulting Agreement, Simone Capital will provide investor relations and capital markets advisory services to the Company on a month-to-month basis. Either party may terminate the Consulting Agreement on 30 days' prior written notice. The services will include non-deal and deal roadshows, coordinating introductory meetings and presentations with prospective investors, daily outreach to the investment community, telephone and email campaigns, social media activities, webinars and capital markets advisory services.
As consideration for the services, the Company will pay Simone Capital a cash fee of C$6,500 per month, plus applicable taxes, payable monthly from the Company's working capital. No securities, stock options, warrants or other equity-based compensation will be issued to Simone Capital under the Consulting Agreement.
Simone Capital is an Ontario corporation that provides investor relations and capital markets advisory services and has its head office at Unit 16, 158 Don Hillock Drive, Aurora, Ontario L4G 0G9. Simone Capital is owned and controlled by Anthony Simone, its President, who will be the individual principally responsible for providing the services to the Company. Simone Capital and Mr. Simone are arm's length to the Company. On July 17, 2026, Simone Capital participated in the Company's private placement by acquiring 87,500 units at a price of C$0.16 per unit. Each unit consisted of one common share of the Company and one-half of one common share purchase warrant, resulting in Simone Capital acquiring 87,500 common shares and 43,750 warrants. Each warrant is exercisable to acquire one additional common share of the Company at a price of C$0.25 until July 17, 2027. Simone Capital currently owns an aggregate of 100,000 common shares of the Company, inclusive of the 87,500 common shares acquired in the private placement, together with the 43,750 warrants described above. Except for those securities, neither Simone Capital nor Mr. Simone has any direct or indirect interest in the Company or its securities, or any right or present intention to acquire such an interest.
The Consulting Agreement and the engagement of Simone Capital remain subject to the acceptance of the TSX Venture Exchange.
About Tower Resources
Tower Resources Ltd. is a mineral exploration company focused on the advancement of its 100%-owned Rabbit North gold project located in the Kamloops Mining Division of British Columbia and the evaluation of additional exploration opportunities in Canada.
On behalf of the Board of Directors
Joe Dhami, President and CEO
For further information, please contact:
Telephone: (778) 996-4730
Email: [email protected]
Website: www.towerresources.ca
Reader Advisory
This news release contains forward-looking information within the meaning of applicable securities legislation, including statements regarding the commencement and continuation of the Consulting Agreement and the acceptance of the Consulting Agreement and the engagement of Simone Capital by the TSX Venture Exchange. Forward-looking information is based on management's current expectations and assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such information.
These risks and uncertainties include, among other things, the risk that TSX Venture Exchange acceptance may not be obtained, that the Consulting Agreement may be amended or terminated, and other risks described in the Company's public disclosure record available under the Company's profile on SEDAR+ at www.sedarplus.ca.
Readers are cautioned not to place undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information except as required by applicable law.
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.
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