TomaGold Announces Closing of the First Tranche of Its Private Placement

Core Points - TomaGold Corporation has successfully closed the first tranche of its non-brokered private placement, raising total proceeds of $1,105,000 through the issuance of 19,300,000 flow-through shares at $0.05 each and 3,500,000 units at $0.04 each [1][3] - The proceeds from the sale of units will primarily be used for general corporate working capital, while the gross proceeds from flow-through shares will be allocated to eligible Canadian exploration expenses [3] - An insider purchased 750,000 units for $30,000, which is considered a related party transaction but is exempt from certain formal requirements due to the market capitalization conditions [4] Financial Details - The first tranche includes 19,300,000 common shares and 3,500,000 units, with each unit consisting of one common share and one-half of a share purchase warrant, exercisable at $0.08 for 24 months [1] - TomaGold paid $56,000 in cash finder's fees and issued 1,120,000 finder's compensation warrants, each allowing the purchase of one share at $0.08 for 24 months [2] Regulatory and Compliance - All securities issued are subject to a statutory hold period of 4 months and a day from issuance [3] - The closing of the private placement is pending final approval from the TSX Venture Exchange [5] Company Overview - TomaGold Corp. is a Canadian junior mining company focused on acquiring, exploring, and developing precious and base metal projects, primarily in Quebec and Ontario [8] - The company's key assets include the Obalski gold-copper-silver project and options to acquire 12 additional properties in the Chibougamau Mining Camp [8]