Trillium Gold Retains Market Liquidity Services

Rhea-AI Summary

Trillium Gold Mines Inc. (TGLDF) has engaged Red Cloud Securities for market-making services, subject to regulatory approval. Red Cloud, based in Toronto, aims to enhance market stability and liquidity for Trillium Gold shares traded on the TSX Venture Exchange. The company will compensate Red Cloud $5,000 monthly, with no performance metrics tied to the agreement. Trillium Gold is focused on mineral property acquisition and exploration in Northern Ontario, holding significant land in the Red Lake Mining District and surrounding areas.

Positive

• Engagement of Red Cloud Securities expected to improve liquidity of Trillium Gold shares.
• Company maintains the largest prospective land package in the Red Lake mining district.

Negative

• No performance metrics in the agreement with Red Cloud could limit accountability.

VANCOUVER, British Columbia, March 21, 2022 (GLOBE NEWSWIRE) -- Trillium Gold Mines Inc. (TSXV: TGM) (OTCQX:TGLDF) (FRA:0702) (“Trillium Gold” or the "Company") is pleased to announce that, subject to regulatory approval, it has retained Red Cloud Securities Inc. ("Red Cloud") to provide market-making services to the Company in compliance with the policies and guidelines of the TSX Venture Exchange (“TSXV”) and other applicable legislation.

Red Cloud, a Toronto-based registered Investment Dealer focused on providing comprehensive capital market services, will trade shares of Trillium Gold on the TSXV for the purposes of maintaining a reasonable market and improving the liquidity of Trillium Gold common shares.

Under the agreement, the Company will pay Red Cloud $5,000 per month, payable quarterly in advance, which term shall continue to be in effect until terminated by either party on 30 days' prior written notice. The Company and Red Cloud have an arm's-length relationship, but Red Cloud and/or its clients may have an interest, directly or indirectly, in the securities of Trillium Gold. There are no performance factors contained in the agreement between Red Cloud and the Company and Red Cloud will not receive any shares or options from the Company as compensation for services it will render. The agreement is principally for the purposes of maintaining market stability and liquidity of the Company's common shares and is not a formal market-making agreement.

On behalf of the Board of Directors,
Trillium Gold Mines Inc.

Russell Starr
Chairman, President & CEO

For further information, please contact Donna Yoshimatsu, VP Corporate Development and Investor Relations at dyoshimatsu@trilliumgold.com, (416) 722-2456, or info@trilliumgold.com.   

Visit our website at www.trilliumgold.com.

About Trillium Gold Mines Inc.

Trillium Gold Mines Inc. is a growth focused company engaged in the business of acquisition, exploration and development of mineral properties located in the Red Lake Mining District of Northern Ontario. As part of its regional-scale consolidation strategy, the Company has assembled the largest prospective land package in and around the Red Lake mining district in proximity to major mines and deposits, as well as the Confederation Lake and Birch-Uchi greenstone belts. Recent examples are the acquisition of the Willis property southwest of the Newman Todd complex, and a definitive agreement giving the Company control over a significant portion of the Confederation Lake Greenstone Belt to more than 100 km in length. In addition, the Company has interests in highly prospective properties in Larder Lake, Ontario.

Neither 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.

Cautionary note regarding forward-looking statements

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectations.

Forward-looking information is based on management’s reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect.   Such factors, among others, include: impacts arising from the global disruption caused by the Covid-19 coronavirus outbreak, business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold or certain other commodities; change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

FAQ

What services is Red Cloud providing to Trillium Gold Mines Inc. (TGLDF)?

Red Cloud is providing market-making services to enhance market stability and liquidity of Trillium Gold shares.

How much is Trillium Gold paying Red Cloud for their services?

Trillium Gold is paying Red Cloud $5,000 per month for their market-making services.

What is the aim of Trillium Gold's engagement with Red Cloud?

The aim is to maintain a reasonable market and improve liquidity of Trillium Gold's common shares on the TSX Venture Exchange.

What areas does Trillium Gold focus on for mineral properties?

Trillium Gold focuses on the Red Lake Mining District and surrounding areas in Northern Ontario.

Is the agreement with Red Cloud a formal market-making contract?

No, it is not a formal market-making agreement but is intended to maintain market stability.