Financings
Torrent Gold arranges $480,000 private placement
TGLD · Price
Executive Summary
- Torrent Gold Inc. announced a non‑brokered private placement of up to 2.4 million common shares at C$0.20 per share, targeting gross proceeds of up to C$480,000.
- The company may increase the offering size pending approval from the Canadian Securities Exchange (CSE).
- Net proceeds are intended primarily to settle accounts payable and fund general working‑capital needs; securities will be subject to a four‑month hold period.
Key Details
- Offering Size: Up to 2,400,000 common shares.
- Price per Share: C$0.20.
- Maximum Gross Proceeds: C$480,000.
- Placement Type: Non‑brokered private placement (no underwriting).
- Regulatory Condition: Subject to approval by the Canadian Securities Exchange (CSE); company may increase size if approved.
- Use of Proceeds: Primarily to settle current accounts payable and for general working‑capital purposes.
- Holding Period: Securities issued will be restricted for four months and one day from the closing date, in accordance with Canadian securities laws and any applicable foreign securities regulations.
Notable Quotes
(No executive quotes were provided in the release.)