Business
Troubadour Resources Closes Fully Subscribed Concurrent Financings for Gross Proceeds of $3.5 Million
(TheNewswire) Vancouver, British Columbia / June 19, 2024 – TheNewswire –...
About this update from Troubadour Resources, Inc.
[{"type":"text","content":"Troubadour Resources Closes Fully Subscribed Concurrent Financings for Gross Proceeds of $3.5 Million\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, British Columbia / June\n19, 2024 –\n \n \n TheNewswire –\n \n \n Troubadour Resources Inc.\n \n \n (“\n \n \n TR\n \n \n ”\n \n \n or the\n“\n \n \n Company\n \n \n ”)\n \n \n (TSXV: TR) (OTC:\nTROUF)\n \n \n announces that it has closed its\npreviously announced private placement (the “\n \n \n Offerings\n \n \n ”) of\ncommon shares (“\n \n \n Shares\n \n \n ”) and units (“\n \n \n Units\n \n \n ”) of the\nCompany for gross proceeds of $3,500,000.\n \n \n \n \n The Company raised (i) $944,750 in gross proceeds\nthrough the issuance (the “\n \n \n LIFE Offering\n \n \n ”) of 7,558,000 common shares\nof the Company (“\n \n \n LIFE\n \n \n Shares\n \n \n ”) at a\nprice of $0.125 per LIFE Share, pursuant to the listed issuer\nfinancing exemption under Part 5A of National Instrument 45-106 –\n \n \n Prospectus\nExemptions\n \n \n (the “\n \n \n LIFE Exemption\n \n \n ”),\nand (ii) $2,555,250 in gross proceeds through the issuance (the\n“\n \n \n Unit Offering\n \n \n ”) of 20,442,000 units of the Company (each, a\n“\n \n \n Unit\n \n \n ”). Each Unit consists of one (1) common share (a\n“\n \n \n Share\n \n \n ”) of the Company and one-half of one (1/2) transferable\nShare purchase warrant (a “\n \n \n Warrant\n \n \n ”) of the Company, with each whole\nWarrant entitling the holder to purchase an additional Share at a\nprice of $0.175 for a period of 24 months from the date of\nissuance.\n \n \n \n \n “\n \n \n We are\nextremely pleased with the overwhelming support and confidence shown\nby our investors,”\n \n \n said Chris Huggins, CEO of\nTR. “\n \n \n The successful closing\nof these financings not only strengthens our balance sheet but will\nalso enable us to advance our exploration projects, further our\nstrategic initiatives and unlock increased value for our\nshareholders\n \n \n .”\n \n \n \n \n The LIFE Shares were offered for sale pursuant to the\nLIFE Exemption and, accordingly, are not subject to a statutory hold\nperiod, in accor...