Trifecta Gold Announces Closing of Private Placement

Rhea-AI Summary

Trifecta Gold has completed a non-brokered private placement, raising $1,478,990 through the sale of 9,859,934 units at $0.15 per unit.

Each unit includes one common share and one-half of a share purchase warrant, with each whole warrant allowing the purchase of an additional share at $0.25 until June 28, 2025.

Cash finders' fees totaling $10,665 and 66,000 finder warrants were issued to Ventum Financial Corp., Canaccord Genuity Corp., and Leede Jones Gable Inc.

All securities from this placement are subject to a hold period in Canada until October 29, 2024.

Proceeds will fund exploration activities and general working capital.

Insiders purchased 2,868,300 units, constituting a related party transaction under TSX-V Policy 5.9 and MI 61-101, utilizing exemptions from formal valuation and minority shareholder approval requirements.

Positive

• Raised $1,478,990 through private placement.
• Proceeds to fund exploration and working capital.
• Insider participation indicates confidence in the company.

Negative

• Issued 9,859,934 shares potentially leading to shareholder dilution.
• New securities subject to a hold period until October 29, 2024.

VANCOUVER, BC / ACCESSWIRE / June 28, 2024 / Trifecta Gold Ltd. (TSXV:TG)(OTCQB:TRRFF) ("Trifecta" or the "Company") is pleased to announce that it has closed its previously announced non-brokered private placement for total proceeds of $1,478,990 (see news release dated May 30, 2024). The private placement consisted of the sale of 9,859,934 units at a price of $0.15 per unit, with each unit consisting of one common share and one-half (1/2) of one share purchase warrant (each whole share purchase warrant a "Warrant"), with each Warrant entitling the holder to purchase one additional common share at a price of $0.25 per share until June 28, 2025.

Trifecta paid cash finders' fees totaling $10,665 and issued a total of 66,000 finder warrants to Ventum Financial Corp., Canaccord Genuity Corp. and Leede Jones Gable Inc. in connection with this private placement. Each finder warrant is exercisable into one common share of the Company until June 28, 2025 at an exercise price of $0.25 per finder warrant.

All securities issued as part of the closing of this private placement, including any shares that may be issued pursuant to the exercise of the warrants or the finder warrants, are subject to a hold period in Canada until October 29, 2024.

The proceeds from the sale of the units will be used to fund exploration activities at Trifecta's mineral properties as well as for general working capital purposes.

Insiders of Trifecta purchased a total of 2,868,300 units in the private placement. The participation of these insiders constituted a related party transaction within the meaning of TSX-V Policy 5.9 and Multilateral Instrument 61-101 - "Protection of Minority Security Holders in Special Transactions" ("MI 61-101"). Trifecta has relied on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of MI 61-101 on the basis that the fair market value (as determined under MI 61-101) of insider participation in the private placement did not exceed 25% of Trifecta's market capitalization.

About Trifecta Gold Ltd.

Trifecta is a Canadian-based precious metals exploration company dedicated to increasing shareholder value through the discovery and development of 100% held gold projects in Yukon and Nevada. Initial drilling at its Yuge Gold Project, located in northern Nevada, has identified multiple broad zones of gold mineralization near historical high-grade mines. The Company's Eureka Project hosts an 8 x 2.5 kilometre belt of surface showings and anomalous gold-in-soil that straddle the headwaters of two of the most productive placer creeks in Yukon's southern Klondike Goldfields. The Company's Treble Project covers a large hydrothermal system, located midway between Western Copper and Gold Corporation's Casino Deposit, the largest copper and gold deposit in the Yukon, and Rockhaven Resources Ltd.'s Klaza Deposit, a high-grade gold-silver deposit.

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for the sale of securities, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

ON BEHALF OF THE BOARD

"Richard Drechsler"

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 President and CEO Tel: (604) 687-2522

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 news release.

SOURCE: Trifecta Gold Ltd.

View the original press release on accesswire.com

FAQ

What is the total amount raised in Trifecta Gold's private placement?

Trifecta Gold raised $1,478,990 through its private placement.

How many units were sold in Trifecta Gold's private placement?

Trifecta Gold sold 9,859,934 units in the private placement.

What does each unit in Trifecta Gold's private placement consist of?

Each unit consists of one common share and one-half of a share purchase warrant.

What is the exercise price for the warrants issued by Trifecta Gold?

The exercise price for the warrants is $0.25 per share.

When do the warrants issued by Trifecta Gold expire?

The warrants expire on June 28, 2025.

For what purposes will Trifecta Gold use the proceeds from the private placement?

The proceeds will be used to fund exploration activities and for general working capital.

How many units did insiders purchase in Trifecta Gold's private placement?

Insiders purchased a total of 2,868,300 units.

When is the hold period for the securities issued in Trifecta Gold's private placement?

The hold period lasts until October 29, 2024.