Troilus Announces Update to Bought Deal Financing
TROILUS ANNOUNCES UPDATE TO BOUGHT DEAL FINANCING
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
April 16, 2019, Toronto, Ontario – Troilus Gold Corp. (TSX:TLG; OTCQB:CHXMF ) (“Troilus” or the
Company”) announces that, further to its press release dated April 10, 2019, announcing a $12
million bought deal financing, the Company has agreed with co-lead underwriters Canaccord Genuity
Corp. (“Canaccord”) and GMP Securities L.P. (“GMP”), and Cormark Securities Inc., Desjardins
Securities Inc., Haywood Securities Inc., National Bank Financial Inc. and PI Financial Corp.
(collectively, the “Underwriters”) to amend the offering to issue to the Underwriters 8,236,000
common shares (the “Shares”) of the Company at a price of C$0.85 per Share (the “Issue Price”) for
gross proceeds of C$7,000,600 (the “Offering”).
The Company has amended the over-allotment option granted to the Underwriters to allow for the
purchase of up to an additional 1,235,400 Shares at the Issue Price, exercisable in whole or in part,
for a period of up to 30 days after the closing of the Offering, to cover over-allotments, if any, and
for market stabilization purposes. If this option is exercised in full, an additional C$1,050,090 will be
raised pursuant to the Offering and the aggregate gross proceeds of the Offering will be
C$8,050,690.
All other terms of the Offering remain unchanged.
“In light of market conditions, Troilus and the Underwriters mutually agreed to update the Offering
to ensure a successful transaction . The Offering, supported by major shareholders, provides Troilus
with the hard dollars to deliver its program through 2019 uninterrupted,” said Justin Reid, CEO of
Troilus Gold Corp.
The Offering is scheduled to close on or about May 2, 2019, or such other date as may be agreed to
between the Company and the Underwriters (the “Closing Date”) and is subject to certain conditions,
including, but not limited to, the receipt of all necessary approvals, including the approval of the
Toronto Stock Exchange (the “TSX”) and the applicable securities regulatory authorities.
The Shares will be offered by way of a short form prospectus to be filed in all of the provinces of Canada,
pursuant to National Instrument 44-101 – Short Form Prospectus Distributions. The securities being
offered have not been, nor will they be, registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent registration or an applicable
exemption from the registration requirements. This news release shall not constitute an offer to sell or
the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such
offer, solicitation or sale would be unlawful.
About Troilus Gold Corp.
Troilus is a Toronto-based, Quebec focused, advanced stage exploration and early-development
company focused on the mineral expansion and potential mine re-start of the former gold and copper
Troilus mine. The 16,000-hectare Troilus property is located near Chibougamau, within the Frotêt-Evans
Greenstone Belt in Quebec, Canada. From 1996 to 2010, Inmet Mining Corporation operated the Troilus
project as an open-pit mine, producing more than 2,000,000 ounces of gold and nearly 70,000 tonnes of
copper.
Qualified Person
The technical and scientific information in this press release has been reviewed and approved by Blake
Hylands, P.Geo., who is a Qualified Person as defined by National Instrument 43-101. Mr. Hylands is an
employee of Troilus and is not independent of the company under National Instrument 43-101.
For more information:
Spyros Karellas
Director, Global Communications
+1 (416) 433-5696
Cautionary Note regarding Forward-Looking Statements and Information
This press release contains "forward-looking statements", within the meaning of Canadian securities
legislation, concerning the business, operations and financial performance and condition of Troilus.
Forward-looking statements include, but are not limited to, statements with respect to the Offering,
including the terms, potential completion and expected closing date of the Offering, whether the Over-
Allotment Option will be exercised, and the intended use of proceeds of the Offering. Forward-looking
statements can generally be identified by the use of forward-looking terminology such as “may”, “will”,
“expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans”, or similar terminology.
Forward-looking statements are made based upon certain assumptions and other important factors
that, if untrue, could cause the actual results, performances or achievements of Troilus to be materially
different from future results, performances or achievements expressed or implied by such statements.
Such statements and information are based on numerous assumptions regarding present and future
business strategies and the environment in which Troilus will operate in the future, including the closing
of the Offering, the receipt of all regulatory approvals (including TSX approval) and anticipated costs.
Certain important factors that could cause actual results, performances or achievements to differ
materially from those in the forward-looking statements include, amongst others, satisfaction of the
conditions to closing of the Offering, currency fluctuations, the global economic climate, dilution, share
price volatility and competition. Forward-looking statements are subject to known and unknown risks,
uncertainties and other important factors that may cause the actual results, level of activity,
performance or achievements of Troilus to be materially different from those expressed or implied by
such forward-looking statements, including but not limited to: risks that the Offering may not close, risks
that not all approvals will be obtained, the impact of general business and economic conditions, risks
related to international operations, government and environmental regulation, conclusions of economic
evaluations, fluctuation in foreign exchange rates and interest rates, stock market volatility, as well as
those factors discussed in the section entitled “Risk Factors” in the short form prospectus of Troilus to
be filed in Canada in connection with the Offering available on SEDAR at www.sedar.com and “Risk
Factors” in Troilus’ annual information form for the financial year ended July 31, 2018 available at
www.sedar.com. Although Troilus has attempted to identify important factors that could cause actual
results to differ materially from those contained in forward-looking statements, there may be other
factors that cause results not to be as anticipated, estimated or intended. There can be no assurance
that such statements will prove to be accurate, as actual results and future events could differ materially
from those anticipated in such statements. Accordingly, readers should not place undue reliance on
forward-looking statements. Troilus does not undertake to update any forward-looking statements that
are contained or incorporated by reference, except in accordance with applicable securities laws.