Troubadour Resources Closes First Tranche of $2 Million Flow Through Financing
488 – 625 Howe St.
Vancouver, BC
V6C 2T6, Canada
604.968.4844
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
NEWSWIRE SERVICES
Troubadour Resources Closes First Tranche of $2 Million Flow Through Financing
Vancouver, British Columbia / August 7, 2024 – Troubadour Resources Inc. (“TR” or the
“Company”) (TSXV: TR) (OTC: TROUF) is pleased to announce that it has closed the first tranche
of a non-brokered private placement (the “ Private Placement” or the “Financing”), which aims
to raise a total of up to $2,000,000 through the issuance of up to 9,523,809 common shares in
the capital stock of the Company (each, a " Share"), issued on a flow -through basis pursuant to
the Income Tax Act (Canada), at a price of $0.21 per Share. The Private Placement will be
conducted pursuant to prospectus exemptions.
The closing of the Private Placement will occur in multiple tranches, the exact number to be
determined by the Company, and is subject to certain conditions, including, but not limited to, the
receipt of all necessary approvals, including final approval from the TSX Venture Exchange.
The Company may pay eligible finders a cash fee of up to 7 percent of the gross proceeds raised
from subscribers introduced by such finders. Additionally, the Company may issue to eligible
finders such number of finders' warrants up to 7 percent of the num ber of shares sold under the
Private Placement to subscribers introduced by such finders. Each finder warrant will entitle the
holder to acquire one Share at a price of $0.21 per share for a period of 24 months from the date
of issuance.
The closing of the first tranche of the Private Placement has resulted in $903,999 .60 in gross
proceeds through the issuance of 4,304,760 Shares at a price of $0.21 per Share. In connection
with the first tranche, qualified finders received 168,000 broker warrants (the “Finder Warrants”).
Each Finder Warrant is exercisable to acquire one Share at a price of $0.21 for a period of 24
months from the date of issuance.
Each Share was issued as a "flow-through share" as defined in subsection 66(15) of the Income
Tax Act (Canada) and as defined in section 359.1 of the Quebec Tax Act with respect to
purchasers in Quebec.
Proceeds of the Private Placement will be used to conduct further exploration on the Company’s
mineral properties.
All securities issued in connection with the Private Placement will be subject to a statutory hold
period of four months and one day following the date of issuance in accordance with applicable
Canadian securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy securities
in the United States. The securities referred to herein 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 may not be offered or sold within the United States or to U.S. persons
unless registered under the U.S. Securities Act and applicable state securities laws or an
exemption from such registration is available. This news r elease shall not constitute an offer to
488 – 625 Howe St.
Vancouver, BC
V6C 2T6, Canada
604.968.4844
sell or the solicitation of an offer to buy in the United States or to, or for the account or benefit of,
persons in the United States or U.S. Persons nor shall there by any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful.
About Troubadour Resources Inc.
Troubadour Resources Inc. is a North American mineral acquisition and exploration company
focused on the development of quality battery and precious metal properties that are drill -ready
with high-upside and expansion potential. Based in Vancouver, BC, Troubadour trades on the
TSX Venture Exchange under the symbol TR and the OTC PK Exchange under the symbol
TROUF.
TROUBADOUR RESOURCES INC.
Chris Huggins
CEO and Director
For more information, please call Chris Huggins at (604) 968-4844 or email
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Forward-looking statements:
This news release may include “forward-looking information ” under applicable Canadian
securities legislation, including statements respecting the Private Placement, the expected use of
proceeds therefrom and the Company’s plan to advance its exploration projects, further its
strategic initiatives and unlock increased value for its shareholders. Such forward -looking
information reflects management’s current beliefs and are based on a number of estimates and/or
assumptions made by and information currently available to the Company that, while considered
reasonable, are subject to known and unknown risks, uncertainties, and other factors that may
cause the actual results and future events to differ materially from those expressed or implied by
such forward-looking information. Readers are cautioned that such forward -looking information
are neither promises nor guarantees and are subject to known and un known risks and
uncertainties including, but not limited to, general business, economic, competitive, political and
social uncertainties, uncertain and volatile equity and capital markets, lack of available capital,
actual results of exploration activities, environmental risks, future prices of base and other metals,
operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits,
and other risks in the mining industry. The Company is presently an exploration stage company.
Exploration is highly speculative in nature, involves many risks, requires substantial expenditures,
and may not result in the discovery of mineral deposits that can be mined profitably. Furthermore,
the Company currently has no reserves on any of its pro perties. As a result, there can be no
assurance that such forward-looking statements will prove to be accurate, and actual results and
future events could differ materially from those anticipated in such statements.
488 – 625 Howe St.
Vancouver, BC
V6C 2T6, Canada
604.968.4844