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TDG Gold Corp. Announces Closing of $9.7 Million Equity Offering
All currencies are shown in Canadian dollars (C$) unless otherwise stated. WHITE ROCK, B...
About this update from Tdg Gold Corp
[{"type":"text","content":"TDG Gold Corp. Announces Closing of $9.7 Million Equity OfferingAll currencies are shown in Canadian dollars (C$) unless otherwise stated.WHITE ROCK, BC / ACCESSWIRE / April 7, 2022 / TDG Gold Corp (TSXV:TDG) (the \"Company\" or \"TDG\") is pleased to announce that it has closed its previously announced private placement financing (the \"Offering\"). The Offering consisted of the issuance of (i) 10,600,000 charity flow-through shares of the Company (the \"Charity FT Shares\") at a price of $0.60 per Charity FT Share for gross proceeds of $6,360,000; (ii) 2,181,819 flow-through shares of the Company (the \"FT Shares\") at a price of $0.55 per FT Share for gross proceeds of $1,200,-000; (iii) 5,200,238 common shares of the Company (the \"Common Shares\") at a price of $0.42 per Common Shares for gross proceeds of $2,184,100. In aggregate, the gross proceeds to the Company total $9,744,100.The Offering was conducted by a syndicate of agents bookrun by Raymond James Ltd. (collectively, the \"Agents\").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 are defined in the Income Tax Act (Canada)) (the \"Qualifying Expenditures\") related to the Company's projects on or before December 31, 2023. All Qualifying Expenditures will be renounced in favour of the subscribers of the Charity FT Shares and FT Shares effective no later than December 31, 2022. The remaining net proceeds from the Offering of Common Shares will be used for general working capital purposes.In connection with the Offering, the Agents received a cash fee of $535,866.53. In addition, the Company granted the Agents 1,003,504 non-transferable compensation warrants of the Company (the \"Compensation Warrants\"). The Company also paid aggregate cash finder's fees of $153,333 and granted 312,741 Compensation Warrants to four arm's length finders in connection with the Offering. Each Compensation Warrant entitles the holder thereof to purchase one common share of the Company at an exercise price of $0.42 per common share expiring on October 7, 2023. All securities issued in connection with the Offering are subject to a four-month hold period expiring on August 8, 2022 in accordance with applicable securi...