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Trillium Closes Equity Financing for Gross Proceeds of $369,170
Trillium Closes Equity Financing for Gross Proceeds of $369,170 Not For Distribution to U.S. N...
About this update from Thunder Gold Corp.
[{"type":"text","content":"\nTrillium Closes Equity Financing for Gross Proceeds of $369,170\n\nTrillium Closes Equity Financing for Gross Proceeds of $369,170\nNot For Distribution to U.S. News Wire Services or For Dissemination in the United States\nThunder Bay, Ontario CANADA, November 29, 2011 /FSC/ - Trillium North Minerals Ltd. (TNM - TSX Venture), announces that on November 28, 2011 it received acceptance from the TSX Venture Exchange to its private placement announced November 22, 2011.\nIn accordance with the provisions of the Subscription Agreements received, on November 29, 2011 the Company issued:\n- a total of 1,431,000 FT Units at $0.07 per FT Unit, each FT Unit consisting of one flow-through common share and one-half (1/2) share purchase warrant, each whole warrant entitling the holder to purchase one additional common share at $0.10 per share on or before November 28, 2014; and\n- a total of 5,380,000 NFT Units at $0.05 per NFT Unit, each NFT Unit\nconsisting of one common share and one-half (1/2) share purchase warrant, each whole warrant entitling the holder to purchase one (1) additional common share at $0.10 per share on or before November 28, 2014.\nThe Company also paid $9,408 cash and issued 456,000 Agent's Options as\nfinder's fees, each Agent's Option being exercisable on or before November 28, 2013 at an exercise price of $0.05 per Agent's Option into one non flow-through common share and one-half share purchase warrant, each whole warrant entitling the Agent to purchase one additional non-flow- through common share, exercisable at $0.10 per share on or before November 28, 2014.\nAll of these shares, including any shares issued on exercise of the warrants, will be subject to a hold period under applicable Canadian securities laws expiring on March 30, 2012, and will be subject to such further restrictions on resale as may apply under applicable foreign securities laws.\nProceeds of $ 100,170 raised from the Flow- Through private placement 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.\nON BEHALF OF THE BOARD\nElliot Strashin, President and CEO\nNeither the TSX Venture Exchange nor its Regulation Servi...