Triumph Gold Announces Completion Of $3,000,000 Private Placement
July 24, 2020
Not for distribution to United States Newswire Services or for dissemination in the United States
VANCOUVER, British Columbia, July 24, 2020 — Triumph Gold Corp., (TSX-V: TIG) (OTCMKTS: TIGCF) (the “Company”) is pleased to announce that it has completed a non-brokered private placement (the “Private Placement”) of 15,000,000 units (“Units”) at a price of $0.20 per Unit for aggregate gross proceeds to the Company of $3,000,000. Each Unit is comprised of one common share of the Company and one common share purchase warrant. Each warrant is exercisable into one common share of the Company at an exercise price of $0.30 per share for a period of three years.
Proceeds of the Private Placement, together with the proceeds of the private placement that closed on July 17 total $6.31 million, and will be used primarily for the Company’s exploration activities and for general working capital purposes. The securities issued pursuant to the Private Placement are subject to a hold period of four months and one day in accordance with applicable securities laws.
In connection with the sale of the Units, the Company paid finders fees of $147,540 in cash and issued 720,825 finder’s warrants. The finder’s warrants may be exercised to acquire common shares of the Company at a price of $0.25 per common share for a period of three years from the date of closing.
The Company also announces that it has granted 6,500,000 stock options to consultants of the Company. The options are exercisable at a price of $0.30 for a period of 5 years.
About Triumph Gold Corp.
Triumph Gold Corp. is a growth oriented Canadian-based precious metals exploration and development company. Triumph Gold Corp. is focused on creating value through the advancement of the district scale Freegold Mountain Project in Yukon. For maps and more information, please visit our website www.triumphgoldcorp.com.
On behalf of the Board of Directors
Signed “John Anderson”
John Anderson, Executive Chairman
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.