Trident Closes $18.6 Million Offering

Executive Summary

• Trident Resources Corp. closed a private placement of 4,948,000 flow‑through common shares at $3.76 per share, generating gross proceeds of $18,604,480.
• The offering consisted of a brokered portion (4,600,000 shares) and a non‑brokered portion (348,000 shares), with underwriters receiving a cash fee equal to 6.0% of the brokered gross proceeds.
• Proceeds will be used to fund exploration, mineral resource expansion, and drilling at Trident’s gold projects in Saskatchewan’s La Ronge Gold Belt, qualifying as Canadian Exploration Expenses (CEE) and flow‑through mining expenditures.

Key Details

• Total shares issued: 4,948,000 Premium Flow‑Through (FT) common shares.
• Issue price: $3.76 per share.
• Aggregate gross proceeds: $18,604,480.
• Brokered Offering: 4,600,000 FT shares sold through a syndicate led by Haywood Securities Inc. and Research Capital Corporation.
• Non‑Brokered Offering: 348,000 FT shares issued directly to purchasers (including related parties).
• Underwriter cash fee: 6.0% of the brokered portion’s gross proceeds.
• Regulatory basis: Issued under the listed issuer financing exemption (NI 45‑106) and Coordinated Blanket Order 45‑935; not subject to a statutory hold period.
• Related‑party transaction: Non‑brokered shares issued to related parties, deemed exempt from formal valuation and minority shareholder approval because fair market value did not exceed 25% of market cap (TSX V Policy 5.9 & MI 61‑101).
• Use of proceeds: Fund further exploration, resource expansion, and drilling at Trident’s gold projects in the La Ronge Gold Belt; expenses to be renounced as CEE/flow‑through mining expenditures by Dec 31 2026.
• Closing condition: Subject to final approval of the TSX Venture Exchange.

Notable Quotes

(No direct quotes were provided in the release.)