Troilus Announces Upsized Bought Deal Financing to $22 Million
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TROILUS ANNOUNCES UPSIZED BOUGHT DEAL FINANCING
TO $22 MILLION
Toronto, Ontario – June 2, 2020 – Troilus Gold Corp. (TSX:TLG; OTCQB:CHXMF) ("Troilus"
or the “Company") is pleased to announce that in connection with its previously announced
bought deal financing , the Company and Cormark Securities Inc. , Laurentian Bank Securities
Inc. and Stifel GMP, as co-lead underwri ters, on behalf of a syndicate of underwriters
(collectively the “Underwriters”), have agreed to increase the size of the previously announced
financing. The Underwriters have agreed to purchase, on a bought deal basis, 21,000,000 units
of the Company (the "Units") at a price of $1.0 5 per Unit for gross proceeds to the Company of
approximately $22 million (the "Offering"). Each Unit will consist of one common share in the
capital of the Company (each a “Common Share”) and one-half of one common share purchase
warrant (each whole warrant, a “Warr ant”). Each Warrant shall entitle the holder to a cquire an
additional Common Share at a price of $1. 50 for a period of 24 months following the closing of
the Offering.
The Company has agreed to grant the Underwriters an option (the "Over-Allotment Option") to
sell an additional 3,150,000 Units, such option being exercisable in whole or in part at any time
prior to the date that is 30 days after the closing of the Offering, to cover over-allotments, if any,
and for market stabilization purposes. In the event that the Over-Allotment Option is exercised in
full, the aggregate gross proceeds of the Offering to Troilus will be approximately $25.36 million.
The Company intends to use the net proceeds of the Offering to advance engineering efforts at
Troilus, commence geotechnical drilling at the deposit, continue infill and exploration drilling and
for working capital and general corporate purposes.
The Units will be offered by way of short form prospectus in each of the provinces of Canada,
pursuant to National Instrument 44 -101 – Short Form Prospectus Distr ibutions. The Units will
not be offered or sold in the United States except under Rule 144A or in s uch other manner as
to not require registration under the United States Securities Act of 1933, as amended.
The Offering is scheduled to close on or before June 23, 2020 and is subject to certain
conditions including, but not limited to, receipt of all re gulatory approvals, including the approval
of the Toronto Stock Exchange and the applicable securities regulatory authorities.
The securities offered in the Offering have not been, and will not be, registered under the U.S.
Securities Act or any U.S. state securities laws, and may not be offered or sold in the United
States or to, or for the account or benefit of, United States persons absent registration or a ny
applicable exemption from the registration requirements of the U.S. Securities Act and
applicable U.S. state securities laws. This press release shall not constitute an offer to sell or
the solicitation of an offer to buy securities in the United States , nor will there be any sale of
these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Troilus
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 83,385-hectare Troilus property is located within the
Frotêt-Evans Greenstone Belt in Quebec, Canada. From 1996 to 2010, Inmet Mining
Corporation operated th e Troilus project as an open pit mine, producing more than 2,000,000
ounces of gold and nearly 70,000 tonnes of copper.
For Further Information, Please Contact:
Justin Reid
Chief Executive Officer
+1 (647) 276-0050 x.1305
Paul Pint
President
+1 (416) 602-1050
Forward-Looking Statements
This press release contains forward -looking statements and forward -looking information (collectively, "forward -looking statements")
within the meaning of applicable securities laws . Such forward -looking statements include, without limitation, statements regarding
the closing of the Offering, the timing of the closing of the Offering, the use of proceeds from the Offering, the receipt of regulator y
approvals, the exercise of the Over -Allotment Option and future results of operations, performance and achievements of the
Company. Although the Company believes that such forward -looking statements are reasonable, it can give no assurance that such
expectations will prove to be correct. Fo rward-looking statements are typically identified by words such as: believe, expect,
anticipate, intend, estimate, postulate and similar expressi ons, or are those, which, by their nature, refer to future events. The
Company cautions investors that any forw ard-looking statements by the Company are not guarantees of future results or
performance, and that actual results may differ materially from tho se in forward -looking statements as a result of various factors,
including the Company's inability to obtain an y necessary permits, consents or authorizations required for its activities, to produce
minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully
able to implement its business strategies. This press release is not, and is not to be construed in any way as, an offer or
recommendation to buy or sell securities in Canada o r in the United States.
Although the Company believes the expectations ex pressed in such forward -looking state ments are based on reasonable
assumptions, such statements are not guarantees of future performance and actual events, results and/or development s may differ
materially from those in the forward -looking statements. Readers should not place undue reliance o n the Company's forward-looking
statements. The Company does not undertake to update any forward -looking statement that may be made from time to time by the
Company or on its behalf, except in accordance with applicable securities laws.