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Trillium Announces $450,000 Financing
Mar. 29, 2011 (Filing Services Canada) -- Trillium North Minerals Ltd. (TNM - TSX Venture), ann...
About this update from Thunder Gold Corp.
[{"type":"text","content":"\nTrillium Announces $450,000 Financing\n\n Mar. 29, 2011 (Filing Services Canada) -- Trillium North Minerals Ltd. (TNM - TSX Venture), announces that it has negotiated a private placement for gross proceeds of up to $450,000, subject to acceptance by the TSX Venture Exchange.  These funds will be raised by the Company issuing:* up to 5,000,000 Flow-Through Units (the \"FT Units\") at a price of $0.07 per FT Unit for gross proceeds of $350,000, each FT Unit consisting of one flow-through common share and one-half share purchase warrant, each whole warrant entitling the holder to purchase one additional non flow-through common share, exercisable for a period of two years from the date of issuance at a price of $0.10 per share; and * up to 2,000,000 Non Flow Through Units (the \"NFT Units\") at a price of $0.05 per NFT Unit for gross proceeds of $100,000, each NFT Unit consisting of one non flow-through common share and one-half share purchase warrant, each whole warrant entitling the holder thereof to purchase one additional non flow-through common share, exercisable for a period of two years from the date of issuance at a price of $0.10 per share.  Proceeds of $350,000 raised from the FT Unit financing will be used for exploration of the Company's West Porcupine gold property located in Ontario, such that the exploration work will qualify as Canadian Exploration Expense for the purposes of the Income Tax Act (Canada), which will then be renounced by the Company to the placees. The balance of up to $100,000 from the NFT Unit financing will be used for general working capital purposes.  The Company may pay cash commissions to finders, subject to acceptance by the TSX Venture Exchange, to be negotiated on a case by case basis but not to exceed 7% of the purchase price of the Units placed by such finder, and may also issue half of a twenty-four month Broker Share Purchase Warrant to eligible parties equal in number to 7% of the number of Units issued in the placement.  The full Broker Share Purchase Warrants will be exercisable at a price of $0.10 per share for a period of twenty-four months from the date of completion of the placement, under the same terms and conditions as the warrants described above.ON BEHALF OF THE BOARD\"Elliot Strashin\"Dr. Elliot Strashin, PresidentNeither the TSX Vent...