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Triumph Gold Closes Second Tranche of Private Placement

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Triumph Gold Corp. (TSX-V: TIG) is pleased to announce that it has completed the second tranche of its non-brokered private placement described in its news release of May 9, 2019. In connection with the second tranche closing of the Offering, the Company issued an aggregate of 3,357,144 flow through units at a price of CDN$0.49 per FT Unit and an aggregate of 878,766 non-flow through units at a price of CDN$0.35 per Unit for aggregate gross proceeds of CDN$1,952,568.

 

Each Unit consists of one common share in the capital of the Company and one-half of one common share purchase warrant. Each FT Unit consists of one flow-through Share and one-half of one Warrant. Each whole Warrant is exercisable to acquire one Share at an exercise price of CDN$0.60 per Share until June 12, 2021, which is 24 months from the date of issuance.

 

Triumph Gold plans to allocate the proceeds of the Offering to exploration on its Freegold Mountain project and general working capital.

 

In connection with the second tranche of the Offering, the Company agreed to pay aggregate finder’s fees of CDN$21,529.75 and 41,493 finder’s warrants. Each finder’s warrant is exercisable to acquire one Share in the capital of the Company at an exercise price of CDN$0.60 per Share until June 12, 2021, which is 24 months from the date of issuance.

 

The securities issued under the Offering, and any Shares that may be issuable on exercise of any such securities, will be subject to a statutory hold period expiring four months and one day from the date of issuance of such securities.

 

 

About Triumph Gold Corp.

 

Triumph Gold Corp. is a growth oriented Canadian-based precious metals exploration and development company. Triumph Gold Corp. is focused on creating value through the advancement of the district scale Freegold Mountain project in Yukon.

 

Posted June 13, 2019

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