Triumph Gold Corp., (TSX-V: TIG) (OTCMKTS: TIGCF) (“Triumph” or the “Company”) announces that it has closed a non-brokered private placement of 6,456,664 units of the Company at a price of $0.30 per unit for gross proceeds of $1,937,000, subject to TSX.V approval. Each unit is comprised of one common share and one common share purchase warrant, exercisable into one common share at a price of $0.45, exercisable for a term of two years from the date of issuance.
The proceeds from the private placement will be used for general working capital and to continue exploration on the Company’s Freegold Mountain Project.
Finder’s fees in the sum of $81,199.94 and the issuance of 270,666 brokers warrants are payable in connection with the private placement. The brokers’ warrants are non-transferable and exercisable at a price of $0.45 per share for a term of two years.
Securities issued under this placement will be subject to a four month hold period from the date of issuance.
John Anderson, Executive Chair of the Company, has beneficially purchased 250,000 units in the private placement. This participation by Mr. Anderson constitutes a “related party transaction” as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61- 101”). Such participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the units acquired by the insider, nor the consideration for the units paid by such insider, exceed 25% of the Company’s market capitalization.
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
/s/ “John Anderson” John Anderson, Executive Chair
For further information please contact: John Anderson, Executive Chair Triumph Gold Corp. +1 (604) 218-7400 [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For Further Information, please 1100 1111 Melville Street Visit our website at Vancouver, BC, Canada, V6E 3V6 www.triumphgoldcorp.com Tel: 604.893.8757
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