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Financings

Toogood Gold amends private placement

By The Northwire Desk — AI Analysis Oct 17, 2025 · 20:02 TGC · 0.31 Toogood Gold Corp.
TGC · Price

Executive Summary

  • Toogood Gold Corp. has updated its previously announced non-brokered private placement, increasing the total gross proceeds to $2 million through a combination of charity flow-through and non-flow-through units.
  • The offering includes 2,469,135 charity flow-through units priced at $0.405 each and 3,333,333 non-flow-through units priced at $0.30 each.
  • Proceeds will be utilized for working capital and continuing/future exploration programs at the company's flagship Toogood gold project in Newfoundland.

Key Details

  • Total Gross Proceeds: Up to $2,000,000.
  • Charity Flow-Through (FT) Units:
    • Quantity: 2,469,135 units.
    • Price: $0.405 per unit.
    • Composition: One flow-through common share and one-half of one non-flow-through common share purchase warrant.
    • Tax Status: Qualifies as flow-through shares under Subsection 66(15) of the Income Tax Act (Canada).
    • Renunciation: Qualifying expenditures (Canadian exploration expenses) will be renounced to initial purchasers with an effective date no later than Dec. 31, 2025.
    • Expenditure Deadline: Expenditures equal to or greater than gross proceeds from FT shares must be incurred (or deemed incurred) on or before Dec. 31, 2026.
  • Non-Flow-Through (NFT) Units:
    • Quantity: 3,333,333 units.
    • Price: $0.30 per unit.
    • Composition: One non-flow-through common share and one-half of one non-flow-through common share purchase warrant.
  • Warrant Terms:
    • Each unit (both FT and NFT) includes one-half of one warrant.
    • Exercise Price: $0.45 per common share.
    • Duration: Two years from the date of issuance.
  • Use of Proceeds: Working capital and continuing/future exploration programs at the Toogood gold project (New World Island, Newfoundland).
  • Closing Conditions: Expected to close on or about Oct. 22, 2025, subject to approvals including conditional approval from the TSX Venture Exchange.
  • Hold Period: Securities are subject to a hold period of four months and one day from the closing date under Canadian securities laws.
  • Finders' Fees: The company may pay finders' fees in accordance with applicable securities laws and TSX Venture Exchange policies.

Notable Quotes

  • None provided in the text.
Read the original news release →

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