TomaGold arranges $2.25-million private placement

Executive Summary

• TomaGold Corp. intends to complete a non-brokered private placement for gross proceeds of up to $2.25 million, subject to TSX Venture Exchange approval.
• The offering consists of two components: flow-through common shares and standard units containing warrants.
• Proceeds will be used for general working capital (units) and eligible Canadian exploration expenses (flow-through shares), with no specific use exceeding 10% of gross proceeds.

Key Details

• Gross Proceeds: Up to $2.25 million.
• Flow-Through Shares:
  • Quantity: Up to 30,000,000 common shares.
  • Price: $0.05 per share.
  • Use of Proceeds: Incur exploration expenses eligible as Canadian exploration expenses (flow-through critical mineral mining expenditures) under the Income Tax Act (Canada).
• Units:
  • Quantity: Up to 18,750,000 units.
  • Price: $0.04 per unit.
  • Composition: Each unit consists of one common share and one-half of one share purchase warrant.
  • Use of Proceeds: General and corporate working capital.
• Warrant Terms:
  • Each unit includes one-half of one warrant.
  • Exercise Price: $0.08 per share.
  • Duration: 24 months from the date of issuance.
• Hold Period: Four months and one day for all securities issued, including shares underlying the warrants, per Canadian securities laws and TSX-V policies.
• Restrictions: No proceeds will be used for investor relations purposes, and no payments will be made to non-arm's-length persons or persons conducting investor relations activities.

Notable Quotes

• None provided in the text.