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Trifecta Gold Ltd. Announces $500,000 Private Placement to Drill High-Grade Gold Targets at Yuge Property, Nevada
NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES VANCOUVER, British Columbia, Oct. 09, 201
About this update from Trifecta Gold Ltd.
[{"type":"text","content":" NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES VANCOUVER, British Columbia, Oct. 09, 2018 (GLOBE NEWSWIRE) -- Trifecta Gold Ltd. (TSX-V: TG) (“Trifecta” or the “Company”) announces a non-brokered private placement offering (the “Offering”) of C$500,000. The Offering will include the sale of 7,142,857 non-flow-through units at a price of C$0.07 per unit. Each non-flow-through unit will consist of one common share and one share purchase warrant. Each warrant will entitle the holder to purchase one additional non-flow-through common share at a price of C$0.10 for a period of two years from the closing of the placement, provided that, in the event the closing price of Trifecta’s common shares as traded on the TSX Venture Exchange is equal to or greater than C$0.17 for a period of ten (10) consecutive trading days subsequent to the expiry of the applicable hold period, Trifecta may give notice of an earlier expiry of the warrants, in which case the warrants will expire thirty (30) calendar days from the giving of such notice. All securities issued as part of the Offering will be subject to a hold period in Canada of four months plus one day from closing. In connection with the offering, the Company is proposing to pay finder’s fees of 7% cash and 7% finder’s warrants. Each finder’s warrant shall have the same terms as the unit warrants noted above. The Offering is subject to TSX Venture Exchange acceptance. The proceeds raised from the Offering will be used to fund a reverse circulation (“RC”) drilling program at the Company’s Yuge property, a high-grade mesothermal gold prospect in Humboldt County, northern Nevada, and for working capital purposes. Trifecta conducted a successful reconnaissance program at Yuge earlier this spring which confirmed the location and high-grade nature of known structures, and lead to the discovery of abundant mineralization elsewhere on the property. Thirty-five of the 68 rock and/or chip samples collected returned greater than 1 g/t gold, 18 of which graded higher than 5 g/t gold. Yuge Property, Humboldt County, Nevada The Yuge property is located in Humboldt County, norther Nevada, approximately 55 km south of Denio in the Varyville Mining District. The property covers the historical Columbia and Juan...