Troubadour Closes Oversubscribed Private Placement Financing of $720,000
Troubadour Closes Oversubscribed Private
Placement Financing of $720,000
Vancouver, British Columbia--(Newsfile Corp. - March 26, 2021) -
TROUBADOUR RESOURCES
INC.
(TSXV: TR) (OTC Pink: TROUF) (the "Company") is pleased to announce that it has closed its
previously announced oversubscribed private placement financing (see news release dated March 12,
2021 and March 22, 2021) by issuing 6,000,000 units (each a "Unit") at a price of $0.12 per Unit for
gross proceeds of $720,000 (the "Financing").
"We would like to welcome our new shareholders who participated in the oversubscribed $720,000
financing and thank existing shareholders who continue to support the Company by increasing their
ownership.
We are excited to deploy this new injection of capital on our exploration assets as we work to
uncover their true potential," states Geoff Schellenberg, President & Director of the Company.
Each Unit consists of one common share (a "Share") in the capital of the Company and one-half of one
non-transferable share purchase warrant (each whole share purchase warrant a "Warrant") of the
Company.
Each full Warrant entitles the holder to purchase one additional Share at a price of $0.18 for
an 18-month period after the Closing Date.
Proceeds of the Financing will be used to fund the upcoming drill program on the Company's Texas
project.
All securities issued under the Financing are subject to a four month and one day statutory hold
expiring on July 27, 2021.
The Company paid finder's fees totaling $1,080.
Certain directors of the Company acquired 259,000 Units pursuant to the Financing (the "Insider
Participation").
The Insider Participation will be considered to be a "related party transaction" as defined
under Multilateral Instrument 61-101 ("MI 61-101").
The Insider Participation is exempt from the formal
valuation and minority shareholder approval requirements of MI 61-101.
This news release does not constitute an offer to sell, or solicitation of an offer to buy, nor will there be
any sale of any of the securities offered in any jurisdiction where such offer, solicitation or sale would be
unlawful, including the United States of America. The securities being offered as part of the Financing
have not been, and will not be, registered under the United States Securities Act of 1933, as amended
(the "U.S. Securities Act"), or any state securities laws, and accordingly may not be offered or sold in the
United States except in compliance with the registration requirements of the U.S. Securities Act and any
applicable state securities laws, or pursuant to available exemptions therefrom.
About Troubadour
TROUBADOUR RESOURCES INC. (
TSXV: TR
) (
OTC Pink: TROUF
)
is a public Canadian mining
exploration company focused on copper and gold in British Columbia, Canada. The Company is
managed by an experienced team consisting of youthful and seasoned professionals with proven track
records as mine finders.
The newly acquired Texas gold property diversifies the Company's commodity
focus and compliments Troubadour's Amarillo copper project located 10 km south of the past-producing
Brenda Mine in southern BC and 35 km east of Kodiak Copper's MPD discovery.
For further information please contact:
Troubadour Resources Inc.
625 Howe Street, Suite 488
Vancouver, BC V6C 2T6
Geoff Schellenberg, President
Office: (604) 681-0221
Forward Looking Information
Except for historical information contained herein, this news release contains forward-looking
statements that involve risks and uncertainties. Actual results may differ materially. Except as
required pursuant to applicable securities laws, the Company will not update these forward-looking
statements to reflect events or circumstances after the date hereof. More detailed information about
potential factors that could affect financial results is included in the documents filed from time to time
with the Canadian securities regulatory authorities by the Company. Readers are cautioned not to
place undue reliance on forward looking statements.
NEITHER 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/78693