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TDG Gold Corp. Announces Addition of Flow-Through Shares To Brokered Private Placement
All currencies are shown in Canadian dollars (C$) unless otherwise stated. WHITE ROCK, British Columbia, March 16, 2022 (GLOBE NEWSWIRE) -- TDG Gold Corp (TSXV:
About this update from Tdg Gold Corp
[{"type":"text","content":" All currencies are shown in Canadian dollars (C$) unless otherwise stated. WHITE ROCK, British Columbia, March 16, 2022 (GLOBE NEWSWIRE) -- TDG Gold Corp (TSXV: TDG) (the “Company” or “TDG”) is pleased to announce that in connection with its previously announced “best efforts” private placement offering (the “Offering”), it has agreed with Raymond James Ltd., on behalf of a syndicate of agents (collectively, the “Agents”), to add flow-through shares (“FT Shares”) to the Offering. The Offering will now be comprised of up to $10 million of charity flow-through shares, flow-through shares and common shares with a minimum of $2 million of common shares. The Offering will consist of a combination of charity flow-through shares of the Company (the “Charity FT Shares”) at a price of $0.60 per Charity FT Share, the FT Shares at a price of $0.55 per FT Share and common shares of the Company (the “Common Shares”) at a price of $0.42 per Common Share, for aggregate gross proceeds of up to $10 million. As previously announced, the Company has granted the Agents an option (the “Over-Allotment Option”) to offer for sale Charity FT Shares, FT Shares and / or Common Shares (or any combination thereof), representing up to an additional 15% of the Offering, at the Offering price, as applicable, exercisable in whole or in part at any time for a period of up to 48 hours prior to the Closing Date. “TDG is pleased to have received the support from several significant new institutional investors and looks forward to closing this successful financing,” said Fletcher Morgan, Chief Executive Officer, TDG. In consideration for their services in connection with the Offering, the Agents will receive a cash fee equal to 6.5% of the gross proceeds raised in the Offering, and compensation warrants exercisable to acquire the number of Common Shares equal to 6.5% of the number of Charity FT Shares, FT Shares and Common Shares issued in the Offering, for a period of 18 months at an exercise price of $0.42, with reduced compensation payable in respect of subscriptions by certain subscriber’s on a president’s list. The gross proceeds from the Offering of Charity FT Shares and FT Shares will be used by the Company to incur eligible \"Canadian exploration expenses\" that will qualify as \"flow-through mining expenditures\" (as such terms...