Vancouver, British Columbia, Canada, July 13, 2020, Trillium Gold Mines Inc. (TSX-V: TGM) (formerly, Confederation Minerals Ltd.; “Trillium” or the “Company”) is pleased to announce that further to the price reservation form filed by it with the TSX Venture Exchange on June 15, 2020, it has entered into subscription agreements for a non-brokered private placement (the “Offering”) of 2,083,000 units (the “Units”) at a price of $0.48 per Unit for gross proceeds of $999,840. Each Unit consisting of one common share of the Company (a “Share”) and one transferable common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase an additional Share at a price of $0.60 for a period of 24 months from closing.
The Company will pay a finder’s fee on a portion of the Offering within the amount permitted by the policies of the TSX Venture Exchange.
Closing of the Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, in particular approval of the TSX Venture Exchange. All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.
The proceeds from the Offering will be used to fund exploration programs on the Company’s Newman Todd gold project, Leo property in the Red Lake gold camp, Shining Tree Property, and the South-West Red Lake Properties, and for general working capital and corporate purposes.
David Velisek, the CEO of the company said, “In addition to the private placement, I am also very delighted to announce that the Company is in the process of identifying and recruiting professionals with incredible skill set to join the board of directors and management team in order to assist the Company in advancing its business.”
On behalf of the Board of Directors,
Trillium Gold Mines Inc.
CEO and Director
Trillium Gold Mines Inc.
Suite 2250, 1055 West Hastings Street
About Trillium Gold Mines Inc.
Trillium Gold Mines Inc. is a British Columbia based company engaged in the business of acquisition, exploration and development of mineral properties located in the highly prospective Red Lake Mining District of Northern Ontario.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.