Business
TRU Closes $1,468,800 Non-Brokered Private Placement
Toronto, Ontario--(Newsfile Corp. - May 19, 2022) - TRU Precious Metals Corp. (TSXV: TRU) (OTC...
About this update from Tru Precious Metals Corp.
[{"type":"text","content":"TRU Closes $1,468,800 Non-Brokered Private PlacementToronto, Ontario--(Newsfile Corp. - May 19, 2022) - TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) (\"TRU\" or the \"Company\") is pleased to announce that on May 17, 2022 it closed the non-brokered private placement (the \"Offering\") announced on April 26, 2022 and subsequently amended on May 4, 2022.TRU Co-Founder and CEO Joel Freudman commented: \"This capital raise will allow us to continue upon our early success at our regional-scale Golden Rose Project, where we continue to achieve increasingly exciting results in our exploration program as we advance towards drilling at the highly prospective Jacob's Pond area. I am especially pleased that we raised funds despite these turbulent markets. We are delighted by the support of Sprott Asset Management and welcome the Marquest Advantaged Mining 2022 Super Flow-Through LP as a new TRU shareholder. The broad participation of our management and board in the Offering, and in particular a significant investment by Resurgent Capital Corp., is a clear signal of our faith in our strategy and the discovery potential of Golden Rose.\"The Company raised gross proceeds of $888,600 from the issuance of flow-through units (\"FT Units\") at a price of $0.14 per unit. Each FT Unit consists of one flow-through common share in the capital of the Company (the \"FT Shares\"), and one flow-through common share purchase warrant (a \"FT Warrant\") exercisable for one non-flow-through common share in the capital of the Company (a \"Share\") at a price of $0.16 for 24 months from the date of issuance. The FT Shares and FT Warrants will qualify as a \"flow-through shares\" within the meaning of subsection 66(15) of the Income Tax Act (Canada).The Company also raised gross proceeds of $387,700 from the issuance of hard dollar units (\"HD Units\") at a price of $0.125 per unit. Each HD Unit consists of one Share and one common share purchase warrant (a \"HD Warrant\", and together with the FT Warrants, the \"Warrants\") exercisable for one additional Share at a price of $0.16 for 24 months from the date of issuance.The Company can elect to accelerate the expiry date of the Warrants in the event that the volume-weighted average trading price of the Shares on the TSX Venture Exchange (\"TSXV\") equals or exceeds $0.30 for the five precedin...