VANCOUVER, BC / ACCESSWIRE / June 9, 2020 / Trifecta Gold Ltd. (TSXV:TG) ("Trifecta" or the "Company") announces the closing of the private placement announced May 19, 2020. The private placement consisted of the issuance of 4,000,000 common shares at a price of $0.025 per share for gross proceeds of $100,000 pursuant to the "Temporary Relief of $0.05 Minimum Pricing Requirement" as published by the TSX Venture Exchange in its "Notice to Issuers" dated April 8, 2020. All of the shares issued pursuant to this private placement are subject to a hold period in Canada until October 10, 2020 and have been legended with the "Exchange Hold Period" as provided for in TSX Venture Exchange Policy 3.2.
The proceeds from this private placement will be used for working capital purposes, including the payment of filing fees, transfer agency fees, D & O liability insurance premiums, rent, administration expenses, accounting and legal expenses and permitting expenses in respect of some of Trifecta's mineral properties. It is anticipated that approximately $28,000 in related party expenses will be incurred in respect of accounting and legal matters from the proceeds of this private placement. No finder's fees were paid and insiders purchased 2,360,000 shares for total proceeds of $59,000.
About Trifecta Gold Ltd.
Trifecta is a Canadian precious metal exploration company dedicated to increasing shareholder value through the acquisition and advancement of attractive exploration projects in Canada and other mining-friendly jurisdictions.
ON BEHALF OF THE BOARD
"Richard Drechsler"
Interim President and CEO
For further information concerning Trifecta or its various exploration projects please visit www.trifectagold.com or contact:
Corporate Information
Trifecta Gold Ltd.
Richard Drechsler
Interim President and CEO
Tel: (604) 687-2522 ext. 262
This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Trifecta Gold Ltd.
View source version on accesswire.com:
https://www.accesswire.com/593192/Trifecta-Gold-Ltd-Closes-Private-Placement
