Mr. Ewan Webster reports
THESIS GOLD UPSIZES PREVIOUSLY-ANNOUNCED PRIVATE PLACEMENT TO $10 MILLION
Due to strong investor demand, Thesis Gold Inc. has agreed with Clarus Securities Inc. and Cormark Securities Inc. as lead agents on behalf of a syndicate of agents to increase the size of its previously announced $7.0-million best effort marketed equity private placement.
Pursuant to the upsized deal terms, the offering will consist of up to 16,666,667 common shares at a price of 60 cents per common share for gross proceeds of up to approximately $10.0-million. The offering will be conducted on a best effort basis by way of a private placement to accredited investors or pursuant to other available prospectus exemptions under National Instrument 45-106 (Prospectus Exemptions) in all provinces of Canada, and such other jurisdictions as may be agreed to by the company and the lead agents, subject to the receipt of necessary regulatory approvals. The company does not expect that the offering will result in the creation of any new control person of the company. The offering is subject to approval by the TSX Venture Exchange.
All securities issued pursuant to the offering will be subject to a four-month hold period in accordance with the policies of the exchange and applicable securities laws.
The company intends to use the net proceeds raised from the offering to finance advancement of the company's mineral projects and for general working capital purposes.
The offering is scheduled to close on or before Dec. 17, 2024, and is subject to certain conditions.
About Thesis Gold Inc.
Thesis Gold is a resource development company focused on unlocking the potential of its 100-per-cent-owned Lawyers-Ranch project, located in British Columbia's prolific Toodoggone mining district. The recently completed preliminary economic assessment (1) highlights robust project economics, including a 35.2-per-cent after-tax internal rate of return and an after-tax net present value discounted at 5 per cent of $1.28-billion, demonstrating the potential for significant value creation. Over the next 12 months, Thesis Gold is dedicated to advancing the project through critical development milestones, including the initiation of a prefeasibility study and progressing permitting and environmental work. The company will also continue to evaluate multiple high-potential exploration targets across the district, aiming to build on the substantial resource growth potential identified in the PEA. Through these strategic moves, Thesis Gold intends to elevate the Ranch-Lawyers project to the forefront of global precious metal ventures.
(1) Please refer to the company's preliminary economic assessment titled, "Updated Preliminary Economic Assessment, Lawyers Gold-Silver Project," with an effective date of Aug. 30, 2024, filed under the company's profile on SEDAR+, which also provides details of the company's mineral resource estimates.
The scientific and technical content of this news release has been reviewed and approved by Michael Dufresne, MSc, PGeol, PGeo, and Carly Church, PEng, PMP, qualified persons as defined by National Instrument 43-101.
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