Trillium Gold Announces Upsized Brokered Private Placement of $13 Million
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Trillium Gold Announces Upsized Brokered Private Placement of $13 Million
VANCOUVER, British Columbia, Sept. 02, 2020 (GLOBE NEWSWIRE) - Trillium Gold Mines Inc.
(“Trillium” or the “ Company”) (TSXV: TGM) is pleased to announce that in connection with its
previously announced brokered private placement, the Company and Eight Capital have agreed to
increase the size of the offering, subject to all required regulatory approvals. Trillium will now issue
2,294,200 units (the “ Units”) at an offering price of $1.70 per Unit; 1,631,600 flow-through common
shares (the “FT Shares”) at an offering price of $1.90 per FT Share; and 2,479,400 charity flow-through
units (the “ Charity FT Units ”) at an offering price of $2.42 per Charity FT Unit, for aggregate gross
proceeds of $13,000,328.
Each Unit will be comprised of one common share of the Company (a “ Share”) and one-half of one
common share purchase warrant (each whole warrant, a “ Warrant”). Each Warrant will entitle the
holder thereof to acquire one Share at an exercise price of $2.60 for a period of 24 months following the
closing of the Offering.
Each Charity FT Unit will be comprised of on FT Share and one-half of one Warrant.
The Company intends to use the net proceeds of the Offering to advance the exploration projects on the
Company’s Red Lake properties, as well as for general working capital purposes.
The gross proceeds from the sale of the FT Shares and the Charity FT Units will be used for expenditures
which qualify as “Canadian exploration expenses” (“CEE”) and “flow-through mining expenditures” both
within the meaning of the Income Tax Act (Canada). The Company will renounce such CEE with an
effective date of no later than December 31, 2020.
The closing date of the Financing is scheduled to be on or about October 1, 2020, and is subject to certain
conditions including, but not limited to, the receipt of all necessary approvals, including the approval of
the TSX Venture Exchange.
On Behalf of the Board of Directors of Trillium Gold Mines Inc.
“Russell Starr”
President, CEO and Director
About Trillium Gold Mines Inc.
Trillium Gold Mines Inc. is a British Columbia based company engaged in the business of acquisition,
exploration and development of mineral properties located in the highly prospective Red Lake
Mining District of Northern Ontario.
Forward Looking Information
Information set forth in this press release contains forward-looking statements. These statements reflect
management’s current estimates, beliefs, intentions and expectations; they are not guarantees of future
performance. The Company cautions that all forward-looking statements are inherently uncertain and that
actual performance may be affected by a number of material factors, many of which are beyond the
Company’s control. Such factors include, among other things: risks and uncertainties relating to
exploration and development, the ability of the Company to obtain additional financing, the need to
comply with environmental and governmental regulations, fluctuations in the prices of commodities,
operating hazards and risks, competition and other risks and uncertainties. Accordingly, actual and future
events, conditions and results may differ materially from the estimates, beliefs, intentions and
expectations expressed or implied in the forward-looking information. Except as required under
applicable securities legislation, the Company undertakes no obligation to publicly update or revise
forward-looking information.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE
EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF
THIS RELEASE.
Contact:
Russell Starr
President & CEO, Director