Business
TRU Closes CAD$3 Million Strategic Investment from Ormonde Mining Plc
THIS NEWS RELEASE IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISS...
About this update from Tru Precious Metals Corp.
[{"type":"text","content":"TRU Closes CAD$3 Million Strategic Investment from Ormonde Mining PlcTHIS NEWS RELEASE IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESTORONTO, ON / ACCESSWIRE / September 6, 2023 / TRU Precious Metals Corp. (TSXV:TRU) (\"TRU\" or the \"Company\") is pleased to announce that it has closed the CAD$3,000,000 non-brokered private placement (the \"Offering\"), with a wholly-owned subsidiary of Ormonde Mining Plc (\"Ormonde\") [(LON:ORM)], that was previously announced on July 4, 2023. The Company issued a total of 60,000,000 units (\"Units\") at a price of CAD$0.05 per Unit, with each Unit being comprised of one common share of the Company (each, a \"Common Share\") and 0.5 of one Common Share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant is exercisable to acquire one Common Share at a price of CAD$0.075 for a period of 36 months.Joel Freudman, Co-Founder and CEO of TRU, commented: \"Closing this Offering marks a game-changing inflection point for TRU. We're delighted to welcome Ormonde not only as a strategic investor, but also as our largest stakeholder. Ormonde's entrance into the North American resource space through TRU speaks to the intrinsic value of our Golden Rose Project, as well as the caliber of the TRU team. In addition to advancing our Golden Rose Project, the funds from the Offering will enable us to execute a number of strategic and corporate initiatives we've been evaluating to generate value and ultimately drive share price appreciation. TRU is now well-capitalized amidst otherwise difficult market conditions, which we expect will lead to numerous exciting opportunities ahead. We look forward to combining the extensive technical expertise, capital markets knowledge, and transactional experience of our Ormonde partners with our own bench strength, as we lay the groundwork to pursue and achieve our overarching mission: to build long-term shareholder value, through prudent natural resource property development and transactions.\"Ormonde is a natural resources company focused on evaluating and executing new opportunities in the mineral exploration sector, through which they can leverage their existing balance sheet to create shareholder value. Ormonde is run by a seasoned team with a wide range of experience in natural resources including...