Triumph Gold Announces Completion of $3,319,600 Private Placement
July 17 2020 - 11:55AM
Triumph Gold Corp., (TSX-V: TIG) (OTCMKTS: TIGCF)
(the “
Company”) is pleased to announce that it has
completed a non-brokered private placement (the “
Private
Placement”) of 16,598,000 units (“
Units”)
at a price of $0.20 per Unit for aggregate gross proceeds to the
Company of $3,319,600. Each Unit is comprised of one common
share and one-half of one transferable common share purchase
warrant of the Company. Each whole warrant is exercisable
into one common share of the Company at an exercise price of $0.30
per share for a period of three years.
Proceeds of the Private Placement will be used
primarily for the Company’s exploration activities and for general
working capital purposes. The securities issued pursuant to
the Private Placement are subject to a hold period of four months
and one day in accordance with applicable securities laws.
The Company had agreed to pay a finders fee in
cash equal to 7.0% of the gross proceeds from the sale of Units to
third parties sourced by the finders as well as warrants to
purchase that number of common shares of the Company equal to 7.0%
of the number of Units sold to third parties sourced by the finder.
The finder’s warrants will be exercisable at C$0.25 per common
share for a period of three years from the date of closing.
About Triumph Gold Corp.
Triumph Gold Corp. is a growth oriented
Canadian-based precious metals exploration and development company.
Triumph Gold Corp. is focused on creating value through the
advancement of the district scale Freegold Mountain Project in
Yukon. For maps and more information, please visit our website
www.triumphgoldcorp.com.
On behalf of the Board of
Directors
Signed “John Anderson”
John Anderson, Executive Chairman
For further information please contact: John
Anderson, Executive Chairman Triumph Gold Corp. +1 (604) 218-7400
janderson@triumphgoldcorp.com |
Nancy Massicotte IR Pro Communications Inc. +1 (604)-507-3377
nancy@irprocommunications.com |
Neither the 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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