Troubadour Resources Closes First Tranche of $2 Million Flow Through Financing

About this update from Troubadour Resources, Inc.

[{"type":"text","content":"Troubadour Resources Closes First Tranche of $2 Million Flow Through Financing\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n Vancouver, British Columbia / August\n7, 2024\n \n\n –\n \n\n TheNewswire\n–\n \n\n Troubadour Resources Inc. (“TR” or the\n“Company”) (TSXV: TR) (OTC: TROUF) is pleased to announce that it\nhas closed the first tranche of a non-brokered private placement (the\n“\n \n\n Private\nPlacement\n \n\n ” or the “\n \n\n Financing\n \n\n ”), which\naims to raise a total of up to $2,000,000 through the issuance of up\nto 9,523,809 common shares in the capital stock of the Company (each,\na \"\n \n\n Share\n \n\n \"), issued on a flow-through basis pursuant to the\nIncome Tax Act (Canada), at a price of $0.21 per Share. The Private\nPlacement will be conducted pursuant to prospectus exemptions.\n \n\n\n\n The closing of the Private Placement will occur in\nmultiple tranches, the exact number to be determined by the Company,\nand is subject to certain conditions, including, but not limited to,\nthe receipt of all necessary approvals, including final approval from\nthe TSX Venture Exchange.\n \n\n\n\n The Company may pay eligible finders a cash fee of up\nto 7 percent of the gross proceeds raised from subscribers introduced\nby such finders. Additionally, the Company may issue to eligible\nfinders such number of finders' warrants up to 7 percent of the number\nof shares sold under the Private Placement to subscribers introduced\nby such finders. Each finder warrant will entitle the holder to\nacquire one Share at a price of $0.21 per share for a period of 24\nmonths from the date of issuance.\n \n\n\n\n The closing of the first tranche of the Private\nPlacement has resulted in $903,999.60 in gross proceeds through the\nissuance of 4,304,760 Shares at a price of $0.21 per Share. In\nconnection with the first tranche, qualified finders received 168,000\nbroker warrants (the “\n \n\n Finder\nWarrants\n \n\n ”). Each Finder Warrant is exercisable\nto acquire one Share at a price of $0.21 for a period of 24 months\nfrom the date of issuance.\n \n\n\n\n Each Share was issued as a \"flow-through\nshare\" as defined in subsection 66(15) of the Income Tax Act\n(Canada) and as defined in section 359.1 of the Quebec Tax Act with\nrespect to ...

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