TomaGold Announces Closing of the Final Tranche of Its Private Placement

Executive Summary

• TomaGold Corp. closed the second and final tranche of its non‑brokered private placement, raising $1,007,000.
• Combined with the first tranche, total proceeds now equal $2,112,000.
• Proceeds will be used for general corporate working capital (Units) and flow‑through eligible exploration expenses in Quebec (FT Shares).

Key Details

• Final Tranche Size: $1,007,000.
• Securities Issued:
• 11,690,000 oversubscribed common “flow‑through” shares at $0.05 per share.
• 10,562,500 units at $0.04 per unit; each unit includes one common share and half of a warrant to purchase an additional share at $0.08 for 24 months.
• Finder Compensation: Paid cash finder’s fees of $25,305 and issued 520,130 finder’s warrants (exercise price $0.08, 24‑month term).
• Hold Period: All securities subject to a statutory hold period of four months and one day from issuance.
• Use of Proceeds:
• Net proceeds from Units → general and corporate working capital (no single use ≥10 % of gross proceeds).
• Gross proceeds from FT Shares → eligible Canadian exploration expenses qualifying as flow‑through critical mineral mining expenditures.
• Regulatory Condition: Closing remains subject to final approval by the TSX Venture Exchange.

Notable Quotes

(No direct quotes were provided in the release.)