Torrent Gold arranges $300,000 private placement

Executive Summary

• Torrent Gold Inc. announced a non-brokered private placement offering of up to 1,111,111 units at $0.27 per unit, targeting aggregate gross proceeds of up to $300,000.
• Each unit consists of one common share and one common share purchase warrant, with warrants exercisable at $0.35 per share for a period of one year.
• Net proceeds are intended for general working capital purposes, subject to Canadian Securities Exchange approval for any increase in offering size.

Key Details

• Offering Size: Up to 1,111,111 units.
• Price: $0.27 per unit.
• Gross Proceeds: Up to $300,000.
• Structure: Each unit comprises one common share and one common share purchase warrant.
• Warrant Terms:
  • Transferable.
  • Exercise Price: $0.35 per share.
  • Duration: One year from the date of issuance.
• Use of Proceeds: Primarily for general working capital purposes.
• Restrictions: Securities are subject to a hold period of four months and one day from the closing date in accordance with Canadian securities laws.
• Regulatory: The company reserves the right to increase the size of the offering, subject to approval from the Canadian Securities Exchange.

Notable Quotes

• None provided in the text.