Trillium Gold Looks To Raise $4.0 Million In Brokered Financing

Trillium Gold Mines (TSXV: TGM) last night announced that the company is looking to raise additional funds. The company has entered into a best efforts private placement, which is to be lead by Red Cloud Securities, for a financing pegged at $4.0 million.

Under the terms of the financing, the company will look to sell up to 4.0 million units of the company at a price of $1.00 per unit. Each unit is to consist of one common share and one half of a common share purchase warrant. Each warrant is valid for a period of two years from the date of issuance and contains an exercise price of $1.50 per share.

A 25% over-allotment option has also been granted to the underwriters under the terms of the financing.

Net proceeds from the financing are to be used to advance the exploration of the firms Red Lake properties as well as for general working capital purposes.

The financing is set to close June 25, 2021.

Trillium Gold Mines last traded at $1.13 on the TSX Venture.


FULL DISCLOSURE: Trillium Gold Mines is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Trillium Gold Mines on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

Video Articles

Silver’s Finally Breaking the System | Keith Neumeyer – First Majestic

The Best News for Gold Was the Drop! – Peter Grandich

McEwen Copper: The Los Azules Feasibility Study

Recommended

Steadright To Conduct Multi-Phased Exploration At Historic Goundafa Polymetallic Mine

Goliath Resources Drills 10.72 g/t Gold Over 7.83 Metres At Surebet

Related News

Lundin To Halt Candelaria Operations Temporarily, Pulls Guidance Following Second Union Strike

Lundin Mining (TSX: LUN) has seen mediation talks break down with a union representing 550...

Monday, October 19, 2020, 08:36:45 AM

Japan Gold Looks To Raise $15.0 Million In Private Placement

Japan Gold (TSXV: JG) this morning announced that it will be conducting a private placement....

Friday, June 25, 2021, 08:02:54 AM

Centerra Gold Reveals Seized Kumtor Mine Flooded At Hazardous Level, Local Operator Disputes

On Tuesday, Centerra Gold Inc. (TSX: CG) disclosed aerial documentation of the seized Kumtor gold...

Wednesday, September 1, 2021, 05:25:00 PM

India Scraps Gold Deposit Program After Underwhelming Results

India has terminated a decade-old program that allowed citizens to deposit gold with banks in...

Tuesday, April 8, 2025, 02:10:00 PM

Great Bear Expands 2021 Exploration Budget To $45 Million

Great Bear Resources (TSXV: GBR) has expanded its planned 2021 exploration program. The program has...

Monday, March 1, 2021, 08:05:48 AM