Trojan Gold Inc. Closes a Non-Brokered Unit Offering

Executive Summary

• Trojan Gold Inc. closed a non‑brokered private placement of 2,000,000 units at $0.10 per unit, generating gross proceeds of $200,000.
• Each unit consists of one common share and one warrant to purchase an additional share at $0.15 for 24 months; securities are subject to a four‑month plus one‑day hold period.
• The transaction is classified as a related‑party transaction but qualifies for exemptions under MI 61‑101 because the fair market value does not exceed 25% of the company’s market capitalization.

Key Details

• Units Issued: 2,000,000 units at $0.10 per unit → Gross Proceeds: $200,000.
• Composition of Each Unit:
• 1 common share of Trojan Gold Inc.
• 1 common share purchase warrant (exercise price $0.15, exercisable for 24 months from closing).
• Hold Period: All securities subject to a four‑month and one‑day hold period from the closing date.
• Funding Source: The subscription price was satisfied by amounts previously advanced to the company; no additional cash inflow required at closing.
• Finder’s Fees: None paid in connection with this issuance.
• Related Party Transaction: Exempted under MI 61‑101 sections 5.5(a) and 5.7(1)(a); fair market value of the units and consideration each < 25% of Trojan Gold’s market cap.
• Warrant Terms: Holders may purchase one additional common share at $0.15 per share; acceleration provisions apply under certain circumstances.

Notable Quotes

(No direct quotes were provided in the release.)