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TDG Gold Corp. Announces Private Placement And Welcomes New 9.9% Institutional Investor
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0 KommentareNOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESWHITE ROCK, BC / ACCESSWIRE / October 2, 2023 / TDG Gold Corp (TSXV:TDG) (the "Company" or "TDG")has arranged a non-brokered private placement of up to …
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
WHITE ROCK, BC / ACCESSWIRE / October 2, 2023 / TDG Gold Corp (TSXV:TDG) (the "Company" or "TDG")has arranged a non-brokered private placement of up to 16,176,470 common shares (each, a "Share") at a price of C$0.17 per Share to raise proceeds of up to C$2.75 million (the "Offering"). TDG has received a firm commitment from a new institutional resource sector investor to acquire 11,600,000 Shares through the Offering and is expected to own approximately 9.9% of TDG's issued and outstanding common shares upon completion of the Offering.
Dr. Fletcher Morgan, CEO & Director of TDG commented, "TDG is pleased to welcome the investment of our new cornerstone institutional investor and the validation of our systematic evaluation of the potential of our Toodoggone properties. The proceeds from the offering will allow us to follow up on our exciting results from Mets, putting TDG in a strong position to complete our existing field programs at our properties in the Toodoggone mining district, setting us up for an exciting 2024."
The Shares issued in connection with the Offering will be subject to a four-month and a day hold period. In addition, the Offering is subject to the approval of the TSX Venture Exchange. Finder's fees may be payable on the Offering.
Use of Proceeds
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The Company intends to use the proceeds of the Offering to fund the cost of the ongoing exploration programs at the Company's projects, with a particular focus on defining the potential of the high grade Mets gold system (see news releases dated September 7 & 11, 2023) and possible extensions; continuing to evaluate the potential for a porphyry-style bulk-tonnage copper-gold system at Baker (see news releases dated July 25, August 15 and September 6, 2023); defining a significantly larger Greater Shasta-Newberry ("GSN") gold-silver system (see news release dated March 20, 2023); and for general working capital purposes. Work currently underway includes detailed ground-based geophysics at Mets; continued re-logging and sampling of historic core and analysis of >225 detailed, system-wide geochemical sampling at Baker; and re-logging and sampling of historic core from the GSN area outside of the defined mineral resource (see news release dated May 1, 2023). Results from these programs will continue to be announced as they become available over the coming months.
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