WHITE ROCK, BC / ACCESSWIRE / April 26, 2023 / TDG Gold Corp (TSXV:TDG) (the “Company” or “TDG”) is pleased to announce that it has closed the first tranche of the private placement previously announced on March 22, 2023 (the “Offering”) consisting …
WHITE ROCK, BC / ACCESSWIRE / April 26, 2023 / TDG Gold Corp (TSXV:TDG) (the “Company” or “TDG”) is pleased to announce that it has closed the first tranche of the private
placement previously announced on March 22, 2023 (the “Offering“) consisting in the issuance of: (i) 1,328,458 common shares issued on a flow-through basis under the Income Tax
Act (Canada) (each, a “FT Share“) at a purchase price of $0.35 per FT Share, and (ii) 3,579,500 hard dollar units of the Company (each, a “Hard Dollar Unit“)
at a purchase price of $0.30 per Hard Dollar Unit, for total gross proceeds to the Company of $1,538,810 (the “First Tranche“). Each Hard Dollar Unit consisted of one
non-flow-through common share of the Company and one-half of one non-flow-through common share purchase warrant of the Company (each whole warrant, a “Hard Dollar Warrant“). Each
Hard Dollar Warrant entitles the holder thereof to purchase one non-flow-through common share of the Company at an exercise price of $0.42 per share until April 26, 2026 (the “Expiry
Date“).
The Company intends to use the net proceeds of the Offering for continued exploration on the Company’s mineral properties, and general working capital. The Offering is being completed on a private
placement basis pursuant to prospectus exemptions under applicable securities laws, and is subject to final acceptance by the TSX Venture Exchange (the “Exchange“). Further details
regarding the Offering are contained in the press release of the Company dated March 22, 2023.
In connection with the First Tranche, Raymond James Ltd. together with its syndicate of agents received a cash fee of $30,776 and non-transferable compensation warrants of the Company exercisable
for a total of 147,238 non-flow-through common shares of the Company at an exercise price of $0.30 per share until the Expiry Date. The Company also paid aggregate cash finder’s fees of $35,100 and
granted 108,428 non-transferable compensation warrants of the Company (each, a “Compensation Warrant“) to arm’s length finders of the Company in connection with the First Tranche.
Each Compensation Warrant entitles the holder thereof to purchase one non-flow-through common share of the Company at an exercise price of $0.30 per share until the Expiry Date. All securities
issued in connection with the First Tranche are subject to a four-month hold period expiring on August 27, 2023 in accordance with applicable securities laws and the Exchange policies.