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Trillium Gold Mines Inc
Symbol TGM
Shares Issued 23,359,614
Close 2020-09-01 C$ 2.14
Recent Sedar Documents

Trillium Gold arranges $8-million placement

2020-09-02 07:49 ET - News Release

Mr. Russell Starr reports

TRILLIUM GOLD ANNOUNCES $8 MILLION BROKERED PRIVATE PLACEMENT

Trillium Gold Mines Inc. has entered into a letter of engagement with Eight Capital, under which Eight Capital, acting as lead agent and sole bookrunner on behalf of a syndicate of agents, shall offer for sale, on a private placement basis, a combination of units, flow-through common shares and charity flow-through units, for aggregate gross proceeds of up to $8,000,224. Up to 1,176,500 units will be offered at an offering price of $1.70 per unit; up to 1,579,000 flow-through shares will be offered at an offering price of $1.90 per flow-through share; and up to 1,239,700 charity flow-through units will be offered at an offering price of $2.42 per charity flow-through unit.

Each unit will comprise one common share of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder thereof to acquire one share at an exercise price of $2.60 for a period of 24 months following the closing of the offering.

Each charity flow-through unit will comprise one flow-through share and one-half of one warrant.

The company has granted Eight Capital an overallotment option to distribute up to an additional $2-million of units and/or flow-through shares at their respective issue price, exercisable in whole or in part at any time within 48 hours prior to the closing of the offering.

The company intends to use the net proceeds of the offering to advance the exploration projects on the company's Red Lake properties, as well as for general working capital purposes.

The gross proceeds from the sale of the flow-through shares and the charity flow-through units will be used for expenditures which qualify as Canadian exploration expenses and flow-through mining expenditures, both within the meaning of the Income Tax Act (Canada). The company will renounce such CEE with an effective date of no later than Dec. 31, 2020.

The closing date of the financing is scheduled to be on or about Oct. 1, 2020, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

As consideration for their services, the agents will receive a cash commission of 6.5 per cent of the gross proceeds of the offering (other than in respect of the president's list, for which the commission will be 3.25 per cent), and compensation warrants in an amount equal to 6.5 per cent of the aggregate number of units, flow-through shares and charity flow-through shares sold pursuant to the offering (other than in respect of the president's list, for which the amount will be 3.25 per cent). Each compensation warrant will be exercisable to purchase one share at $1.70, for a period of 24 months.

About Trillium Gold Mines Inc.

Trillium Gold Mines 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.

We seek Safe Harbor.

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