Toogood Gold Receives TSXV Approval and Issues Shares Pursuant to Table Mountain Option Agreement
Toogood’s TSXV approval finalizes its Nevada option, advancing the drill timeline for the project.
Toogood Gold Corp. (TGC) received approval from the TSX Venture Exchange on July 16, 2026, and issued 1,000,000 common shares as the initial payment for its option to acquire 100% of the Table Mountain Gold-Silver Project in Nevada. The company also paid US$31,791 in expense reimbursements to the optionors, identified as GenEx Exploration, Orogen Royalties, and Altius Resources.
The agreement carries a 3.0% Net Smelter Returns (NSR) royalty, with buydown provisions allowing reduction to 2.0% for up to US$20 million in cash payments. Future share issuances required to exercise the option total 15,683,431 shares, scheduled at 6-month, 1-year, and 2-year milestones post-approval.
This release finalizes the transaction announced via LOI in March 2026 and definitive agreement in May 2026, marking the official transition from option negotiation to active exploration and drill preparation.
Toogood Gold Corp. (TGC) has approved and issued 1,000,000 shares at a deemed price of $0.10, a move that aligns with the company’s current trading range and suggests minimal immediate price impact. This issuance represents the routine execution of a previously announced and market-anticipated transaction.
The agreement includes a remaining obligation to issue approximately 15.7 million shares over the next two years, introducing significant future dilution that the market is likely to factor in gradually. The transaction advances the Table Mountain project toward Phase 2 geophysics and a maiden drill program targeted for Q3 2026, providing a clear near-term catalyst. No new financial guidance, assay results, or strategic shifts were disclosed; the news is strictly procedural and follows the established earn-in schedule.
Toogood Gold Corp. (TGC) is a district-scale gold explorer operating primarily in Newfoundland, Canada, with a new strategic focus on Nevada. The company’s flagship Toogood Gold Project in Newfoundland comprises a 164 km² land package featuring the Quinlan Zone, a high-grade near-surface gold discovery with visible gold in multiple drill holes and historic intercepts up to 76.89 g/t Au.
The company also holds the Table Mountain Project in Nevada, a district-scale, undrilled low-sulphidation epithermal gold-silver system. This asset features a 4x2 km alteration footprint, strong geochemical halos, and surface rock samples up to 2.6 g/t Au. Toogood Gold’s management team has a proven track record of generating over C$4.1 billion in shareholder value across previous ventures.