Business
Triumph Gold Closes First Tranche of Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. VANCOUVER, British Columbia, May 15, 2019 (GLOBE NEWSWIRE) -
About this update from Triumph Gold Corp.
[{"type":"text","content":" NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. VANCOUVER, British Columbia, May 15, 2019 (GLOBE NEWSWIRE) -- Triumph Gold Corp. (\"Triumph Gold\" or the “Company”) (TSX Venture Exchange: TIG) is pleased to announce that it has completed the first tranche of its non-brokered private placement (the \"Offering\") described in its news release of May 9, 2019. In connection with the first tranche closing of the Offering, the Company issued an aggregate of 2,887,500 non-flow through units (the \"Units\") at a price of CDN$0.35 per Unit for gross proceeds of CDN$1,010,625. Each Unit consists of one common share in the capital of the Company (a “Share”) and one-half of one transferable common share purchase warrant (each whole common share purchase warrant, a “Warrant”). Each whole Warrant is exercisable to acquire one Share at an exercise price of CDN$0.60 per Share until May 14, 2021 which is 24 months from the date of issuance. Triumph Gold plans to allocate the proceeds of the Offering to exploration on its Freegold Mountain project and general working capital. In connection with the first tranche of the Offering, the Company agreed to pay aggregate finder’s fees of CDN$50,464.75 and 59,185 Share purchase warrants (the “Finder’s Warrants”). Each Finder’s Warrant is exercisable to acquire one Share in the capital of the Company at an exercise price of CDN$0.60 per Share until May 14, 2021, which is 24 months from the date of issuance. The Offering remains subject to final approval of the TSX Venture Exchange. The securities issued under the Offering, and any Shares that may be issuable on exercise of any such securities, will be subject to a statutory hold period expiring four months and one day from the date of issuance of such securities. About Triumph Gold Corp. Triumph Gold Corp. is a growth oriented Canadian-based precious metals exploration and development company. Triumph Gold Corp. is focused on creating value through the advancement of the district scale Freegold Mountain project in Yukon. For maps and more information, please visit our website www.triumphgoldcorp.com On behalf of the Board of Directors Signed \"Paul Reynolds\" Paul Reynolds, President & CEO For further information please contact: John Ander...