Business
TRU Precious Metals Completes Change of Business to Mining Issuer
Fredericton, New Brunswick--(Newsfile Corp. - May 13, 2021) - TRU Precious Metals Corp. (TSXV:...
About this update from Tru Precious Metals Corp.
[{"type":"text","content":"TRU Precious Metals Completes Change of Business to Mining IssuerFredericton, New Brunswick--(Newsfile Corp. - May 13, 2021) - TRU Precious Metals Corp. (TSXV: TRU) (OTC: TRUIF) (\"TRU\" or the \"Company\") is pleased to announce that further to its press releases issued on February 2, 2021 and April 30, 2021, the Company has completed its Change of Business (as such term is defined in TSX Venture Exchange (the \"Exchange\") Policy 5.2) to a \"mining issuer\" from its current classification as an \"investment issuer\".In connection with the Change of Business and pursuant to Exchange requirements, the Company has filed a filing statement dated April 29, 2021 (the \"Filing Statement\"), together with a National Instrument 43-101 geological report on the Golden Rose Project (the \"Geological Report\"), under the Company's SEDAR profile at www.sedar.com. Readers are strongly encouraged to review the Filing Statement and the Geological Report for full details on the Change of Business. TRU Co-Founder and CEO Joel Freudman commented, \"Today marks a seminal event for TRU. This is the outcome that we have been working towards over the past months: becoming a mining issuer. With our strong district-scale land package in the Central Newfoundland Gold Belt secured, having five properties within the region, we are well-positioned and well-funded to commence our various work programs. Once again, we thank all our loyal shareholders for their patience over these past months. We are excited to move forward with our business and exploration objectives, and to resume trading in our shares, so that we can grow TRU and continue to unlock value for our investors.\"The Company intends to resume trading on May 14, 2021. Upon resumption of trading, the Company will be listed on the Exchange as a Tier 2 \"mining issuer\". The Company's name and ticker symbol, \"TRU\", will remain the same.Further to its press release dated March 5, 2021, the Company is pleased to announce the release of funds held in escrow from its oversubscribed non-brokered private placement (the \"Offering\") of gross proceeds of $3,500,212. Pursuant to the Offering, TRU issued 15,910,053 subscription receipts (the \"Subscription Receipts\") at a price of $0.22 per Subscription Receipt. Each Subscription Receipt has been automatically exercised into one unit of the Company compri...