Trojan GOLD Inc. Clarifies Status of Its Non-Brokered Unit Offering
TROJAN GOLD INC. CLARIFIES STATUS OF ITS NON-BROKERED UNIT OFFERING
Toronto, Ontario – December 24, 2025 –Trojan Gold Inc. (CSE: TGII) (the "Company") wishes to clarify,
further to its press release dated December 23, 2025 that it has not closed the placement but intends to
close the placement on or about December 31, 2025. As noted, this will be a non-brokered private
placement of units ("Units") through the issuance of 2,000,000 Units at a price of $0.10 per Unit for total
gross proceeds of $ 200,000. The aggregate subscription price of $200,000 has been satisfied by
amounts previously advanced to the Company.
The Units are comp rised of one common share in the capital of the Company and one common share
purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereof to purchase one additional
common share in the capital of the Company for a period of 24 months from the closing date at an
exercise price of $0.15, subject to acceleration in certain circumstances.
All securities comprising the Units are subject to a four-month and one-day hold period from the closing
date. No finders' fees will be paid in connection with the issuance of the Units.
The issuance of the Units in the private placement constitutes a “related party transaction” as such term
is defined by Multilateral Instrument 61 -101 Protection of Minority Security Holders in Special
Transactions (“MI 61 -101”). The Company has relied on the exemptions from the MI 61 -101 valuation
and minority approval requirements for related party transactions in connection with the issuance of the
Units that are set out in sections 5.5(a) and 5.7(1)(a) of MI 61 -101 as neither the fair market value (as
determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for,
the issuance of the Units, exceeds 25% of the Company’s market capitalization (as determined under
MI 61-101).
About Trojan Gold Inc.
Trojan is an active Ontario -based prospect generator junior exploration company, led by a team of
professionals having exploration, engineering, project financing and permitting experience. Trojan
has accumulated land positions in the Hemlo Gold Camp and Shebandowan Greenstone Belt which
in management’s view represent mineral exploration potential. For further information on the
Company, please visit www.trojangold.com. Trojan is listed on the Canadian Securities Exchange
under the symbol (CSE: TGII) and on the Frankfurt Exchange under the symbol KC1.
For further information, please contact:
Charles J. Elbourne, President & CEO
Trojan Gold Inc.
82 Richmond St. East, Suite
401 Toronto, Ontario M5C 1P1
Telephone: 416-315-6490
Email:
Website: www.trojangold.com
Further Information
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would
be unlawful.
Forward-Looking Statements
This news release contains “forward -looking information” within the meaning of applicable
securities laws. All statements contained herein that are not clearly historical in nature may
constitute forward-looking information. In some cases, forward-looking information can be identified
by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”,
“anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms,
or other similar words, expressio ns, and grammatical variations thereof, or statements that certain
events or conditions “may” or “will” happen, or by discussions of strategy. Forward-looking
information contained in this press release includes, but is not limited to, statements relating to the
number and pricing of securities that the Company expects to issue.
Where the Company expresses or implies an expectation or belief as to future events or results, such
expectation or belief is based on assumptions made in good faith and believed to have a reasonable
basis. Such assumptions include, without limitation, that the Company will receive all necessary
approvals required in order to complete the issuance of the securities described in in this press
release.
However, forward -looking statements are subject to risks, uncertainties, and other factors, which
could cause actual results to differ materially from future results expressed, projected, or implied by
such forward -looking statements. Such risks include, b ut are not limited to, the risk that the
Company will not be able to proceed with the issuance of the securities on the terms described in
this press release or at all due to not having received all necessary approvals or for other reasons
beyond the Company’s control.
Accordingly, undue reliance should not be placed on forward-looking statements and the forward-
looking statements contained in this press release are expressly qualified in their entirety by this
cautionary statement. The forward-looking statements contained herein are made as at the date
hereof and are based on the beliefs, estimates, expectations, and opinions of management on such
date. The Company does not undertake any obligation to update publicly or revise any such forward-
looking statements or any forward-looking statements contained in any other documents whether as
a result of new information, future events or otherwise or to explain any material difference between
subsequent actual events and such forward -looking information, except as required under
applicable securities law. Readers are cautioned to consider these and other factors, uncertainties,
and potential events carefully and not to put undue reliance on forward-looking information.