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Triumph Gold Closes Third Tranche of Private Placement
VANCOUVER, British Columbia, July 11, 2019 (GLOBE NEWSWIRE) -- Triumph Gold Corp. ("Triumph Gold" or the “Company”) (TSX Venture Exchange: TIG) is pleased to an
About this update from Triumph Gold Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, July 11, 2019 (GLOBE NEWSWIRE) -- Triumph Gold Corp. (\"Triumph Gold\" or the “Company”) (TSX Venture Exchange: TIG) is pleased to announce that it has completed the third tranche of its non-brokered private placement (the \"Offering\") described in its news release of May 9, 2019. In connection with the third tranche closing of the Offering, the Company issued an aggregate of 2,269,743 non-flow through units (the \"Units\") at a price of CDN$0.35 per Unit for aggregate gross proceeds of CDN$794,410. Each Unit consists of one common share in the capital of the Company (a “Share”) and one-half of one 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 July 11, 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 second tranche of the Offering, the Company agreed to pay aggregate finder’s fees of CDN$50,096 and 130,582 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 July 11, 2021, which is 24 months from the date of issuance. 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. The Company anticipates closing the final tranche of the financing next week. 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 Anderson, Executive Chairman Triumph Gold Corp. (604) 218-7400 [email protected] Paul Reynolds President & CEO Triumph Gold Corp.(604) [email protected] Nei...