Business
Troilus Gold Announces Closing of Previously Announced Asset Sale to Sayona Mining For C$40 Million and C$4.8 Million Private Placement Investment; Webinar to be Hosted on November 22 at 11AM EST
MONTREAL, Nov. 17, 2022 (GLOBE NEWSWIRE) -- Troilus Gold Corp. (“Troilus” or the “Company”, TSX: TLG; OTCQX: CHXMF) announces that today it has closed its previ
About this update from Troilus Mining Corp
[{"type":"text","content":" MONTREAL, Nov. 17, 2022 (GLOBE NEWSWIRE) -- Troilus Gold Corp. (“Troilus” or the “Company”, TSX: TLG; OTCQX: CHXMF) announces that today it has closed its previously announced asset sale of 1,824 claims to a subsidiary of Sayona Mining Limited (“Sayona”) for consideration of 184,331,797 million ordinary shares of Sayona issued at a price of C$0.217 per share, representing an aggregate value of C$40 million. In addition, Troilus has been granted a 2% net smelter returns royalty on all mineral products from the transferred claims. Troilus has issued a total of 9,883,163 Common Shares of Troilus to Sayona at a price of C$0.49 per share for aggregate gross proceeds to Troilus of C$4,842,749.87 (the “Private Placement”). In connection with the Private Placement, Sayona has been granted certain participation rights to maintain its equity interest so long as it maintains said interest at or above 5%. Troilus to Host Live Webinar to Discuss Transaction Troilus will be hosting a live webinar on Tuesday, November 22, at 11:00AM EST / 8:00AM PST. CEO of Troilus, Justin Reid, will be discussing the Sayona transaction, as well as other recent news. The discussion will be followed by an open question and answer period. Questions may be asked during the webinar or can be emailed in advance to [email protected]. A replay of the webinar will be made available on Troilus’ website once available. Date: Tuesday, November 22, 2022 Time: 11:00AM EST / 8:00AM PST Link to join webinar: https://us06web.zoom.us/j/83225295405 Dial-in (for higher quality, dial a number based on your current location): Canada: +1 204 272 7920, +1 438 809 7799, +1 587 328 1099, +1 647 374 4685, +1 647 558 0588, +1 778 907 2071, +1 780 666 0144 United States: +1 720 707 2699, +1 253 205 0468, +1 253 215 8782, +1 301 715 8592, +1 305 224 1968, +1 309 205 3325, +1 312 626 6799, +1 346 248 7799, +1 360 209 5623, +1 386 347 5053, +1 507 473 4847, +1 564 217 2000, +1 646 558 8656, +1 646 931 3860, +1 669 444 9171, +1 689 278 1000, +1 719 359 4580 Webinar ID: 832 2529 5405 About Troilus Gold Corp. Troilus Gold Corp. is a Canadian-based junior mining company focused on the systematic advancement and de-risking of the former gold and copper Troilus Mine towards production. From 1996 to 2010, the Troilus Mine produced +2 million ounces of gold and nearly 70,000 tonnes of copper. T...