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TRU Announces Non-Brokered Private Placement to Fund Drilling of High-Grade Gold Target at Golden Rose Project
Toronto, Ontario--(Newsfile Corp. - April 20, 2023) - TRU Precious Metals Corp. (TSXV: TRU) (OTCQ...
About this update from Tru Precious Metals Corp.
[{"type":"text","content":"TRU Announces Non-Brokered Private Placement to Fund Drilling of High-Grade Gold Target at Golden Rose ProjectToronto, Ontario--(Newsfile Corp. - April 20, 2023) - TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (\"TRU\" or the \"Company\") announces that it intends to complete a non-brokered private placement for gross proceeds between $250,000 to $500,000 (the \"Offering\"). The Company intends to issue units (\"Units\") at a price of $0.05 per Unit. Each Unit will consist of one common share in the capital of the Company (a \"Share\") and one Share purchase warrant (a \"Warrant\") exercisable for one additional Share at a price of $0.075 for 36 months from the date of issuance.The gross proceeds of the Offering will primarily be used for approximately 1,000 metres (m) of test drilling at the Mark's Pond target area, at the Company's Golden Rose Project (\"Golden Rose\") in central Newfoundland, where a 275 m long trench completed in October 2022 returned significant high-grade gold channel sampling results from the newly discovered Northcott Gold Zone (see press release dated January 12, 2023), including: 57.6 grams per ton of gold (g/t Au) over 2.5 m including 141 g/t Au over 1.0 m;34.0 g/t Au over 2.0 m including 65.4 g/t Au over 1.0 m; and23.5 g/t Au over 2.0 m including 90 g/t Au over 0.5 m.The Company expects to carry out this drill program later this summer, following completion of preparatory fieldwork already underway. A portion of the proceeds from the Offering will also be used for corporate and public company purposes.The Offering is anticipated to close by May 11, 2023. In connection with the Offering, eligible finders will receive (a) a cash commission equal to 8% of the gross proceeds raised from subscribers to the Offering who were introduced by such finder, and (b) such number of non-transferrable finder warrants (\"Finder Warrants\") as is equivalent to 8% of the number of Units issued to such subscribers. Each Finder Warrant will entitle the holder thereof to purchase one Share at a price of $0.075 for a period of 36 months following the Closing Date.All securities issued under the Offering will be subject to a four-month statutory hold period in accordance with applicable securities laws. Completion of the Offering remains subject to TSX Venture Exchange approval.The securities issued pursuant to the O...