Non - Brokered Flow - through Private Placement
Search documents
Trans Canada Gold Announces $500,000 Non-Brokered Flow-through Private Placement for Drilling at the Harrison Lake District Scale Gold Property
Accessnewswire· 2026-02-23 11:30
Core Viewpoint - Trans Canada Gold Corp. is initiating a $500,000 non-brokered flow-through private placement to fund drilling activities at the Harrison Lake District Scale Gold Property, in addition to a previously announced $1.5 million non-brokered private placement [1][2] Group 1: Private Placement Details - The company will offer an additional 2,777,777 flow-through units at a subscription price of $0.18 per unit, aiming for total gross proceeds of up to $500,000 [1] - Each flow-through unit consists of one flow-through common share and one-half of a share purchase warrant, with the whole warrant exercisable into one non-flow-through common share at an exercise price of $0.30 for two years [1] - The company has agreed to pay a finder's fee of 6% of the gross proceeds to arm's length parties for services related to the offering [1] Group 2: Use of Proceeds - The net proceeds from the flow-through offering will be used for eligible Canadian exploration expenditures related to drilling activities at the Harrison Lake Gold Project [1] - The company plans to renounce these expenditures for the 2026 tax year [1] Group 3: Previous Offering - The previously announced non-brokered private placement involves 10,000,000 units at a price of CAD $0.15 per unit, targeting gross proceeds of up to CAD $1.5 million [1] - Each unit in the NFT offering consists of one common share and one common share purchase warrant, with the warrant exercisable at $0.30 for three years [1] Group 4: Financial Allocation - The proceeds from the NFT offering will cover various costs, including $50,000 for due diligence, $50,000 for initial acquisition costs, $600,000 for year 1 exploration expenditures, and $200,000 for general working capital [1] - Year 1 expenditures are budgeted for core logging facility upgrades, underground rehabilitation, drilling, and other operational costs [1] Group 5: Regulatory Compliance - Both offerings will be conducted under prospectus exemptions and are subject to a four-month hold period from the date of issuance [1] - The company confirms no undisclosed material facts or changes regarding its operations [2]