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Trillium Gold Mines Announces CDN$70,000 Bridge Loan and Issuance of Warrants
VANCOUVER, British Columbia, March 29, 2023 (GLOBE NEWSWIRE) -- Trillium Gold Mines Inc. (TSXV: TGM, FRA: 0702) (“Trillium”) is pleased to announce that it has
About this update from Renegade Gold Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, March 29, 2023 (GLOBE NEWSWIRE) -- Trillium Gold Mines Inc. (TSXV: TGM, FRA: 0702) (“Trillium”) is pleased to announce that it has entered into a bridge loan agreement with RSD Capital Corp. (the “Lender”) dated March 28, 2023 (the “Loan Agreement”) to obtain a bridge loan in the principal amount of C$70,000 (the “Loan”). Trillium will use the proceeds of the Loan for business and commercial uses. The Loan will bear interest at a rate of 10% per annum, accruing daily on each amount of the Loan advanced from the date of the advance and compounding monthly. Unless accelerated pursuant to the terms of the Loan Agreement, the Loan will become due on the earlier of the day (i) that is six (6) months from March 29, 2023, and (ii) that Trillium or any of its subsidiaries closes a financing of any kind or nature resulting in gross proceeds equal to or greater than CDN $70,000. In the event that the Warrants are not approved by the TSX Venture Exchange (the “Exchange”) on or before the day that is 45 days from the date hereof, the interest rate of the Loan shall increase and the Loan will bear an interest rate of 12% per annum calculated in the same manner stipulated in the Loan Agreement. Trillium may prepay the Loan in full, together with all accrued and unpaid interest, at any time upon five (5) business days’ written notice to the Lender. Under the terms of the Loan Agreement, the Issuer intends to issue to or as directed by the Lender 608,695 warrants (the “Warrants”), which qualify as a Loan Bonus pursuant to section 2 of Policy 5.1. Each Warrant entitles the holder to subscribe for and purchase one common share (a “Common Share”) in the capital of the Issuer at a purchase price of C$0.115 per Common Share for a period of one year following the date of issuance. The price of the warrant has been calculated pursuant to the “Market Price” calculation as defined under Exchange Policy 1.1 Interpretation. Each Warrant is non-assignable and non-transferable and is subject to the applicable regulatory hold period. The Loan and issuance of the Warrants remains subject to receipt of all necessary regulatory and other approvals, including the final approval of the Exchange. About Trillium Gold Mines Inc. Trillium Gold Mines Inc. is a growth focused company engaged in the business of acquisition, exploration and ...