Mr. John Anderson reports
TRIUMPH GOLD ANNOUNCES CLOSING OF PRIVATE PLACEMENT
Triumph Gold Corp. has closed its non-brokered private placement for 28,571,428 units of the company at a price of 13.125 cents per unit for gross proceeds of up to $3.75-million.
Each unit comprises one common share and one-half of a common share purchase warrant, with each
whole warrant exercisable to acquire one additional share at a price of 17.5 cents, exercisable for a term of five
years from the date of issuance.
The proceeds from the private placement will be used for general working capital, repayment of outstanding
liabilities and to continue exploration on the company's Freegold Mountain project.
Finders' fees in the sum of $9,975 are payable in connection with the private placement. Securities issued
under this placement will be subject to a four-month hold period from the date of issuance, being May 28,
John Anderson, executive chair of the company, has beneficially purchased 3.5 million units in the private
placement. This participation by Mr. Anderson constitutes a related party transaction as defined under
Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. Such participation is exempt from the formal valuation and minority shareholder approval
requirements of MI 61-101 as neither the fair market value of the units acquired by the insider, nor the
consideration for the units paid by such insider, exceeds 25 per cent of the company's market capitalization.
About Triumph Gold Corp.
Triumph Gold is a growth-oriented Canadian-based precious metals exploration and development
company. Triumph Gold is focused on creating value through the advancement of the district-scale
Freegold Mountain project in Yukon.
© 2023 Canjex Publishing Ltd. All rights reserved.