#TriumphGoldCorp. $TIG $TIGCF #Yukon #gold #copper #miningexploration
Triumph Gold Corp. (TSX-V: TIG) (“Triumph” or the “Company”) is pleased to announce that it has completed a private placement financing of 14,641,101 units of Triumph at a price of $0.35 per unit for gross proceeds of approximately $5,124,385. Each unit consists of one common share of the Company and one half of one non-transferable common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant is exercisable into one additional common share at a price of $0.55 for a period of two years from the closing of the financing. The investment was made primarily by institutional investors. A private Hong Kong fund invested approximately $2.5 million and three existing shareholders (amongst others) participated in the offering, including Goldcorp Inc. (“Goldcorp”) which exercised its right to top up to a 19.9% ownership by participating in the financing.
John Anderson, Chairman of Triumph commented: “We are excited to have new institutional investors investing directly into the Company as we continue to explore the Freegold Mountain project. As well, we are overwhelmed that current shareholders requested to increase their investment at this time. Goldcorp has participated in this financing to increase its interest in the Company to 19.999% on a partially diluted basis. We view this investment as a validation of our exploration philosophy and look forward to continuing to work with Goldcorp’s technical team as we continue to advance the Freegold Mountain project.”
The proceeds of the offering will be used for exploration at the Company’s Freegold Mountain project and for general working capital. Triumph currently has two diamond drills on the property and is in the middle of an 18,000 metre drilling program.
All securities issued in connection with this financing will be subject to a statutory four month hold period expiring on November 12, 2018, in accordance with applicable Canadian securities laws. Upon completion of the private placement, the Company will have 78,442,638 common shares issued and outstanding. The Company has agreed to pay cash finder’s fees in the aggregate amount of $31,300 to certain finders in connection with the private placement.
Goldcorp and Palisade Global Investments Ltd., each subscribed for 2,719,674 units and 2,900,000 units, respectively, under the offering. The participation of each of these insiders is considered to be a “related party transaction” as defined under TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company determined that an exemption from the formal valuation requirement of MI 61-101 was available for each related party transaction pursuant to Section 5.5(b) of MI 61-101. The Company also relied on Section 5.7(1)(a) of MI 61-101 for an exemption from the minority shareholder approval requirement.
The Company did not file a material change report more than 21 days in advance of the closing of the offering, which the Company deems reasonable and necessary in the circumstances as the closing date of the private placement had not been established at that time.
About Triumph Gold Corp.
Triumph Gold Corp. is a growth oriented Canadian-based precious metals exploration and development company. Triumph Gold Corp. is focused on creating value through the advancement of the district scale Freegold Mountain project in Yukon. For maps and more information, please visit our website www.triumphgoldcorp.com
On behalf of the Board of Directors
Signed “Paul Reynolds”
Paul Reynolds, President & CEO
|For further information please contact:
John Anderson, Executive Chairman
Triumph Gold Corp.
+1 (604) 218-7400
Ellis Martin interview with Chairman of Triumph Gold Corp, TSXV$TIG $TIGCF, John Anderson:
#Gold #Copper #Yukon
Triumph Gold reports results of prospecting and geological mapping on the Andalusite Peak property. Highlights of exploration include:
go to: www.triumphgoldcorp.com for complete news release
Triumph Gold TSX.V-TIG OTCMKTS: $TIGCF will be exhibiting at the AME BC Roundup Core Shack on Wednesday, January 24 and Thursday, January 25. The conference is being held at the Vancouver Trade and Convention Centre West, 1055 Canada Place, Vancouver, BC.
Triumph Gold will be displaying drill core from its 2017 Freegold Mountain project, Yukon at booth number 816.
go to: www.triumphgoldcorp.com for full news release
Summary of November 20, 2017 Press Release for @TriumphGoldCorp TSXV$TIG $TIGCF
Highlights of exploration at Tinta include:
Discussion of Results:
Results from the 2016 and 2017 soil sampling survey show a strong multi-element anomaly along strike of the Tinta vein deposit, with an approximately 500 metre gap between the vein and the newly defined 1.8-km-long anomaly. The geological model of a pinching and swelling vein structure may adequately explain the absence and then re-occurrence of the soil anomaly along strike of the Tinta vein. The new soil anomaly covers twice the area of the one defined around the Tinta vein.
Trenching within the soil anomaly tested less than half of the total length of the anomaly, and uncovered altered, veined and mineralized rock in six of seven trenches.
For complete press release go to: www.triumphgoldcorp.com
Summary of November 15, 2017 Press Release for #TriumphGoldCorp:
Triumph Gold Announces Discovery of High-Grade Gold in Least-Explored Portion of the Revenue Deposit Including a 7-metre Interval Grading 15.0 grams/tonne Gold
See: www.triumphgoldcorp.com for complete press release