Troubadour Resources Closes Fully Subscribed Concurrent Financings for Gross Proceeds of $3.5 Million
488 – 625 Howe St.
Vancouver, BC
V6C 2T6, Canada
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Troubadour Resources Closes Fully Subscribed Concurrent Financings for Gross
Proceeds of $3.5 Million
Vancouver, British Columbia / June 19, 2024 – Troubadour Resources Inc. (“TR” or the
“Company”) (TSXV: TR) (OTC: TROUF) announces that it has closed its previously announced
private placement (the “ Offerings”) of common shares (“ Shares”) and units (“ Units”) of the
Company for gross proceeds of $3,500,000.
The Company raised (i) $944,750 in gross proceeds through the issuance (the “LIFE Offering”)
of 7,558,000 common shares of the Company (“ LIFE Shares”) at a price of $0.125 per LIFE
Share, pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-
106 – Prospectus Exemptions (the “LIFE Exemption”), and (ii) $2,555,250 in gross proceeds
through the issuance (the “Unit Offering”) of 20,442,000 units of the Company (each, a “Unit”).
Each Unit consists of one (1) common share (a “Share”) of the Company and one-half of one
(1/2) transferable Share purchase warrant (a “ Warrant”) of the Company , with each whole
Warrant entitling the holder to purchase an additional Share at a price of $0.175 for a period of
24 months from the date of issuance.
“We are extremely pleased with the overwhelming support and confidence shown by our
investors,” said Chris Huggins, CEO of TR. “The successful closing of these financings not only
strengthens our balance sheet but will also enable us to advance our exploration projects, further
our strategic initiatives and unlock increased value for our shareholders.”
The LIFE Shares were offered for sale pursuant to the LIFE Exemption and, accordingly, are not
subject to a statutory hold period, in accordance with applicable Canadian securities laws. The
securities issued under the Unit Offering are subject to a statutory hold period of four months and
one day following the date of issuance.
The net proceeds from the Offerings will be used for fieldwork at the Company’s exploration
projects, general corporate purposes, and working capital and as more particularly set forth in the
offering document relating to the LIFE Offering, which is available on the Company’s profile on
www.sedarplus.ca.
In connection wit h the Offering s, qualified finders received a ggregate cash finders’ fees of
$228,938.00 and 1,957,500 broker warrants ( the “Finder Warrants”). Each Finder Warrant is
exercisable to acquire one (1) Share for $ 0.175 for a period of 24 months from the date of
issuance.
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
sell or the solicitation of an offer to buy in the United States or to, or for the account or benefit of,
488 – 625 Howe St.
Vancouver, BC
V6C 2T6, Canada
604.968.4844
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 Offerings, 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.