TomaGold closes $348,075 private placement

Executive Summary

• TomaGold Corp. has closed an oversubscribed non-brokered flow-through private placement, raising $348,075.45 from the issuance of 5,355,007 common shares at 6.5 cents per share.
• The company announced a new non-brokered private placement for up to $150,000, consisting of units priced at 5.5 cents, each including a common share and a warrant.
• TomaGold granted 9.75 million stock options to directors, officers, and consultants at an exercise price of 6.5 cents per share.

Key Details

• Flow-Through Private Placement Closing:
  • Total proceeds: $348,075.45.
  • Shares issued: 5,355,007 common shares on a flow-through basis.
  • Price per share: 6.5 cents.
  • Use of proceeds: Exploration expenses eligible as Canadian exploration expenses (flow-through critical mineral mining expenditures).
  • Hold period: Four months and a day from issuance.
• Finder’s Fees and Warrants:
  • Aggregate cash finders' fees paid: $9,617.27.
  • Warrants issued to finders: 96,173 warrants.
  • Warrant terms: Entitle holder to purchase one common share at 10 cents per share for 24 months from issuance.
• New Private Placement (Announced):
  • Gross proceeds target: Up to $150,000.
  • Units to be issued: Up to 2,727,273 units.
  • Price per unit: 5.5 cents.
  • Unit composition: One common share and one-half of one share purchase warrant.
  • Warrant terms: Entitle holder to purchase one additional share at 10 cents for 24 months from issuance.
  • Use of proceeds: General and corporate working capital.
  • Hold period: Four months and one day under Canadian securities laws and TSX-V policies.
  • Status: Subject to TSX-V approval and filings.
• Stock Option Grant:
  • Total options granted: 9.75 million.
  • Recipients: Directors, officers, and consultants.
  • Exercise price: 6.5 cents per share.
  • Term: Five years.

Notable Quotes

• None provided in the text.