VANCOUVER, B.C. – Trans Canada Gold Corp. (TSX-V: TTG) (“Trans Canada” or the “Company”), is pleased to announce that it has closed its recently announced private placement (see news release dated April 21, 2021). The Company issued an aggregate of 2,166,666 units (“Units”) at a price of $0.15 per unit for aggregate gross proceeds of $325,000. Each Unit consists of one (1) common share and one (1) common share purchase warrant. Each warrant entitles the holder to purchase one common share in the capital of the Company at an exercise price of $0.25 per share for a period of three (3) years from the date of issuance.
Proceeds from the financing will be used by the Company for exploration work planned to take place during the 2021-2022 field season, on its 14,800-hectare Trans Canada Gold Project situated near the Dryden gold district in Northwest, Ontario Canada and the Gold Crow High Grade Gold project situated near Pickle lake, Ontario. The Company also intends to use the proceeds from the financing for any new costs associated with the acquisition and exploration of the Company’s new gold exploration assets, legal, accounting costs and general working capital.
No finders’ fees were paid in connection with the financing. All of the shares issued upon closing are subject to a four month hold period expiring on September 22, 2021.
Pursuant to Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”) the Company advises that the financing constitutes a “related party transaction” under MI 61-101 and the Company is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to section 5.5(a) and section 5.7(1)(a) of the instrument.
TRANS CANADA GOLD CORP.- www.transcanadagold.com
The company has launched its new fully interactive website and social media platforms at www.transcanadagold.com The fully interactive website, which allows users to access social media platforms such as Twitter, Facebook and Instagram will update and allow shareholders to view the Company’s latest exploration activities and development of the Trans Canada Gold Project/Dinorwic Gold Property situated near Dryden, Ontario. The website will assist the Canacom Group, one of Canada’s leading progressive Digital Marketing groups and service providers located in Toronto, Ontario who are providing digital expertise and branding for the Company in the gold and mineral exploration sector. The increased exposure is expected to increase investor awareness of the newly re-named Company, Trans Canada Gold Corp.
ABOUT TRANS CANADA GOLD CORP. – GOLD MINERAL EXPLORATION/ OIL AND GAS PRODUCTION
The Company is a Canadian Gold and Mineral Exploration and Oil & Gas Resource Development Company that is currently focused on developing its’ District Scale Gold exploration project in Ontario, increasing its production capabilities, and obtaining potential future oil production revenues. The Company identifies, acquires and finances the acquisition of gold exploration properties and the ongoing development of mining and oil and gas assets primarily situated in Canada, a time-honored safe mineral exploration jurisdiction. The Company is currently reviewing a number of District Scale gold mineral exploration property opportunities, and identifying low risk exploration opportunities through selective acquisitions and development of mining exploration assets situated in these favorable resource jurisdictions. The Company has qualified Senior exploration management and Geological Mining teams of professionals, seasoned in exploration production, field exploration and drilling. The Company has the necessary manpower in place to develop its natural resource properties and manage its production properties. The Company is committed to minimizing risk through selective property acquisitions, and responsible exploration and development of mining, and petroleum and natural gas resource assets.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Tim Coupland, President and CEO
Trans Canada Gold Corp.
Tel: (604) 681-3131
Neither the TSX Venture Exchange nor its Regulation Services Provider, (as the term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.