Trillium Gold Mines Announces Brokered Private Placement for up to C$3.5 Million
NEWS RELEASE
Trillium Gold Mines Inc. [email protected] +1 604 688 9588 +1 778 329 9361
Trillium Gold Mines Announces Brokered Private Placement
for up to C$3.5 Million
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES
VANCOUVER, BC, Canada – August 2 3, 2022 – Trillium Gold Mines Inc. (TSXV: TGM)
(OTCQX:TGLDF) (FRA:0702) (“Trillium Gold” or the "Company") is pleased to announce that it
has entered into an agreement with Red Cloud Securities Inc. (the "Agent") to act as sole agent
and bookrunner in connection wi th a best efforts, private placement (the "Offering") for gross
proceeds of up to C$3,500,000 from the sale of any combination of units of the Company (each,
a "Unit") at a price of C$0.20 per Unit and flow-through units of the Company (each, a "FT Unit",
and collectively with the Units, the “Offered Securities”) at a price of C$0.225 per FT Unit.
Each Unit will consist of one common share of the Company (each a “Unit Share”) and one half
of one common share purchase warrant (each whole warrant, a “Warrant”). Each FT Unit will
consist of one common share of the Company to be issued as a “flow -through share” within the
meaning of the Income Tax Act (Canada), (each a “FT Share”) and one half of one Warrant. Each
Warrant shall entitle the holder to purchase one common share of the Company (each, a “Warrant
Share”) at a price of C$0.30 at any time on or before that date which is 24 months after the closing
date of the Offering.
The Agent will have an option, exercisable in full or in part , up to 48 hours prior to the closing of
the Offering, to sell up to an additional C$750,000 in any combination of Offered Securities at the
offering prices (the "Agent’s Option").
Proceeds from the sale of FT Shares will be used to incur "Canadian exploration expense s" as
defined in subsection 66.1(6) of the Income Tax Act and "flow -through mining expenditures" as
defined in subsection 127(9) of the Income Tax Act. Such proceeds will be renounced to the
subscribers with an effective date not later than December 31, 2022, in the aggregate amount of
not less than the total amount of gross proceeds raised from the issue of FT Shares.
The Company intends to use the proceeds raised from the Offering for exploration of the
Company’s Red Lake properties, as well as for general working capital purposes. The Offering is
scheduled to close on or around September 22 , 2022 and is subject to certain conditions
including, but not limited to, receipt of all necessary approvals including the approval of the TSX
Venture Exchange. The U nit Shares, FT Shares and Warrant Shares will have a hold period
ending on the day that is four months and one day following the closing date.
As consideration for their services, the Agent will receive a cash commission of 6.0% of the gross
proceeds of the Offering and broker warrants in an amount equal to 6.0% of the aggregate
number of Offered Securities sold pursuant to the Offering. Each broker warrant will be
exercisable to purchase one common share of the Company at a price of C$0. 20 for a period of
24 months from the closing date of the Offering.
NEWS RELEASE
Trillium Gold Mines Inc. [email protected] +1 604 688 9588 +1 778 329 9361
The securities described herein have not been, and will not be, registered under the United States
Securities Act, or any state securities laws, and accordingly may not be offered or sold within the
United States except in compliance with the registration requirements of the U.S. Securities Act
and applicable state securities requirements or pursuant to exemptions therefrom. This press
release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.
Visit our website at www.trilliumgold.com.
For further information, please contact Donna Yoshimatsu, VP Corporate Development and
Investor Relations at [email protected], (416) 722-2456, or [email protected].
Visit our website at www.trilliumgold.com.
On behalf of the Board of Directors,
Trillium Gold Mines Inc.
Russell Starr
President, CEO and Director
About Trillium Gold Mines Inc.
Trillium Gold Mines Inc. is a growth focused company engaged in the business of acquisition,
exploration and development of mineral properties located in the Red Lake Mining District of
Northern Ontario. As part of its regional -scale consolidation strategy, the Company has
assembled one of the largest prospective land packages in and around the Red Lake mining
district in proximity to major mines and deposits, as well as along the Confederation Lake and
Birch-Uchi greenstone belts. The Company recently closed acquisitions effectively extending its
contiguous land position over more than 100 km of favourable structures on trend with Kinross
Gold’s Great Bear Project and Evolution Mining’s Red Lake Operation. In addition, the Company
has interests in highly prospective properties in Larder Lake, Ontario.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in th e policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Cautionary note regarding forward-looking statements
This news release contains forward -looking information, which involves known and unknown risks,
uncertainties and other factors that may cause actual events to differ materially from current expectations.
Forward-looking information is based on management’s reasonable assumptions, estimates, expectations,
analyses and opinions, which are based on management’s experience and perception of trends, current
conditions and expected developments, and other factors that management believes are relevant and
reasonable in the circumstances, but which may prove to be incorrect. Such factors, among others, include:
impacts arising from the global disruption caused by the Covid -19 coronavirus outbreak, business
integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets;
fluctuations in spot and forward prices of gold or certain other commodities; change in national and local
government, legislation, taxation, controls, regulations and political or economic developments; risks and
hazards associated with the business of mineral exploration, development a nd mining (including
environmental hazards, industrial accidents ); inability to obtain adequate insurance to cover risks and
NEWS RELEASE
Trillium Gold Mines Inc. [email protected] +1 604 688 9588 +1 778 329 9361
hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations;
relationships with and cl aims by local communities and indigenous populations; availability of increasing
costs associated with mining inputs and labour; the speculative nature of mineral exploration and
development (including the risks of obtaining necessary licenses, permits and approvals from government
authorities); and title to properties.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only
as of the date of this press release. The Company disclaims any intention or obligation, except to the extent
required by law, to update or revise any forward-looking statements, whether as a result of new information,
future events or otherwise.