VANCOUVER, British Columbia, July 06, 2017 (GLOBE NEWSWIRE) -- Trifecta Gold Ltd. (TSX-V:TG) (“Trifecta” or the “Company”) announces a non-brokered private placement offering (the “Offering”) of up to C$1,500,000. The Offering will include the sale of up to 4,000,000 flow-through units at a price of C$0.25 per flow-through unit (for a total of up to C$1,000,000) and up to 2,500,000 non-flow-through units at a price of C$0.20 per unit (for a total of up to C$500,000). Each flow-through unit will consist of one flow-through common share and one-half (1/2) of a share purchase warrant. Each non-flow-through unit will consist of one common share and one-half (1/2) of a share purchase warrant. A full warrant from either of the flow-through or the non-flow-through units will entitle the holder to purchase one additional non-flow-through common share at a price of C$0.30 for a period of one year from the closing of the placement.
In the event the closing price of Trifecta’s common shares as traded on the TSX Venture Exchange is equal to or greater than C$0.35 for a period of ten (10) consecutive trading days subsequent to the expiry of the applicable hold period, Trifecta may give notice of an earlier expiry of the warrants, in which case the warrants will expire thirty (30) calendar days from the giving of such notice.
All securities issued as part of the Offering will be subject to a hold period in Canada of four months plus one day from closing. Finders’ fees may be paid on a portion of the Offering. The Offering is subject to TSX Venture Exchange acceptance.
Field crews will soon mobilize to Trifecta’s Eureka and Trident properties to begin field surveys in anticipation of diamond drilling.
“With this financing initiated and investment interest coming in, we are now beginning exploration on our highly prospective Yukon properties,” stated Dylan Wallinger, Trifecta’s President and Chief Executive Officer. “Preparatory work is expected to take about two weeks and drilling should begin later this month.”
Trifecta also announces an expansion of its road-accessible Trident property, located within the White Gold District of the Dawson Range Gold Belt in western Yukon. The Company has added 193 contiguous mineral claims to the property, bringing the total up to 718 claims.
About Trifecta Gold Ltd.
Trifecta is a Canadian precious metal exploration company dedicated to increasing shareholder value through the acquisition and development of attractive exploration projects in Canada and other mining-friendly jurisdictions.
ON BEHALF OF THE BOARD
“Dylan Arnold-Wallinger”
President and Chief Executive Officer
For further information concerning Trifecta or its various exploration projects please visit our newly updated website at www.trifectagold.com or contact:
Corporate Information
Trifecta Gold Ltd.
Dylan Wallinger
President and C.E.O.
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.The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. This news release does not constitute an offer of securities for sale, 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.
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.