TR - Troubadour Resources Closes Fully Subscribed Concurrent Financings for Gross Proceeds of $3.5 Million
(TheNewswire)
Vancouver, British Columbia / June19, 2024 – TheNewswire – Troubadour Resources Inc. (“ TR ” or the“ Company ”) (TSXV: TR) (OTC:TROUF) announces that it has closed itspreviously announced private placement (the “ Offerings ”) ofcommon shares (“ Shares ”) and units (“ Units ”) of theCompany for gross proceeds of $3,500,000.
The Company raised (i) $944,750 in gross proceedsthrough the issuance (the “ LIFE Offering ”) of 7,558,000 common sharesof the Company (“ LIFE Shares ”) at aprice of $0.125 per LIFE Share, pursuant to the listed issuerfinancing exemption under Part 5A of National Instrument 45-106 – ProspectusExemptions (the “ LIFE Exemption ”),and (ii) $2,555,250 in gross proceeds through the issuance (the“ Unit Offering ”) of 20,442,000 units of the Company (each, a“ Unit ”). Each Unit consists of one (1) common share (a“ Share ”) of the Company and one-half of one (1/2) transferableShare purchase warrant (a “ Warrant ”) of the Company, with each wholeWarrant entitling the holder to purchase an additional Share at aprice of $0.175 for a period of 24 months from the date ofissuance.
“ We areextremely pleased with the overwhelming support and confidence shownby our investors,” said Chris Huggins, CEO ofTR. “ The successful closingof these financings not only strengthens our balance sheet but willalso enable us to advance our exploration projects, further ourstrategic initiatives and unlock increased value for ourshareholders .”
The LIFE Shares were offered for sale pursuant to theLIFE Exemption and, accordingly, are not subject to a statutory holdperiod, in accordance with applicable Canadian securities laws. Thesecurities issued under the Unit Offering are subject to a statutoryhold period of four months and one day following the date ofissuance.
The net proceeds from the Offerings will be used forfieldwork at the Company’s exploration projects, general corporatepurposes, and working capital and as more particularly set forth inthe offering document relating to the LIFE Offering, which isavailable on the Company’s profile on www.sedarplus.ca .
In connection with the Offerings, qualified findersreceived aggregate cash finders’ fees of $228,938.00 and 1,957,500broker warrants (the “ FinderWarrants ”). Each Finder Warrant is exercisableto acquire one (1) Share for $0.175 for a period of 24 months from thedate of issuance.
This news release does notconstitute an offer to sell or a solicitation of an offer to buysecurities in the United States. The securities referred to hereinhave not been and will not be registered under the United StatesSecurities Act of 1933, as amended (the “ U.S. SecuritiesAct ”) or any statesecurities laws and may not be offered or sold within the UnitedStates or to U.S. persons unless registered under the U.S. SecuritiesAct and applicable state securities laws or an exemption from suchregistration is available. This news release shall not constitute anoffer to sell or the solicitation of an offer to buy in the UnitedStates or to, or for the account or benefit of, persons in the UnitedStates or U.S. Persons nor shall there by any sale of the securitiesin any jurisdiction in which such offer, solicitation or sale would beunlawful.
About Troubadour ResourcesInc.
Troubadour Resources Inc. is a North American mineralacquisition and exploration company focused on the development ofquality battery and precious metal properties that are drill-readywith high-upside and expansion potential. Based in Vancouver, BC,Troubadour trades on the TSX Venture Exchange under the symbol TR andthe OTCPK Exchange under the symbol TROUF.
TROUBADOUR RESOURCES INC.
Chris Huggins
CEO and Director
For more information, please call Chris Huggins at(604) 968-4844 or email chris@greenwood.capital .
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in policies ofthe TSX Venture Exchange) accepts responsibility for the adequacy oraccuracy of this release.
Forward-looking statements:
This news release may include“forward-looking information” under applicable Canadian securitieslegislation, including statements respecting the Offerings, theexpected use of proceeds therefrom and the Company’s plan to advance its exploration projects,further its strategic initiatives and unlock increased value for itsshareholders . Suchforward-looking information reflects management’s current beliefsand are based on a number of estimates and/or assumptions made by andinformation currently available to the Company that, while consideredreasonable, are subject to known and unknown risks, uncertainties, andother factors that may cause the actual results and future events todiffer materially from those expressed or implied by suchforward-looking information. Readers are cautioned that suchforward-looking information are neither promises nor guarantees andare subject to known and unknown risks and uncertainties including,but not limited to, general business, economic, competitive, politicaland social uncertainties, uncertain and volatile equity and capitalmarkets, lack of available capital, actual results of explorationactivities, environmental risks, future prices of base and othermetals, operating risks, accidents, labour issues, delays in obtaininggovernmental approvals and permits, and other risks in the miningindustry. The Company is presently an exploration stage company.Exploration is highly speculative in nature, involves many risks,requires substantial expenditures, and may not result in the discoveryof mineral deposits that can be mined profitably. Furthermore, theCompany currently has no reserves on any of its properties. As aresult, there can be no assurance that such forward-looking statementswill prove to be accurate, and actual results and future events coulddiffer materially from those anticipated in such statements.
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