Triumph Gold closes $1.93-million private placement

Executive Summary

• Triumph Gold Corp. closed a non‑brokered private placement of 6,456,664 units at $0.30 per unit, generating gross proceeds of approximately $1.94 million.
• Each unit includes one common share and one warrant to purchase an additional share at $0.45, with a two‑year exercise period; broker warrants (270,666) were also issued.
• Proceeds will be used for general working capital and to fund continued exploration on the Freegold Mountain project in Yukon.

Key Details

• Units sold: 6,456,664 units at $0.30 per unit.
• Gross proceeds: $1,937,000 (subject to TSX Venture Exchange approval).
• Unit composition: 1 common share + 1 common‑share purchase warrant (exercise price $0.45, two‑year term).
• Broker warrants: 270,666 non‑transferable warrants issued; exercise price $0.45 per share, two‑year term.
• Finders’ fees: $81,199.94 payable in connection with the placement.
• Hold period: Securities subject to a four‑month hold period from issuance date.
• Use of proceeds: General working capital and continued exploration on the Freegold Mountain project.
• Related party transaction: Executive Chair John Anderson purchased 250,000 units; transaction exempt from MI 61‑101 valuation/minority approval thresholds (≤25% market cap).

Notable Quotes

(No direct quotes were provided in the release.)