- TRU Precious Metals (TRU) has closed a non-brokered private placement for gross proceeds of $1,468,800
- The company raised gross proceeds of $888,600 from flow-through units and $387,700 from hard dollar units
- Proceeds will allow the company to continue exploration at the Golden Rose and Twilite Gold projects in Newfoundland
- TRU Precious Metals is engaged in the acquisition and exploration of gold properties
- TRU Precious Metals Corp. (TRU) opened trading at C$0.10 per share
TRU Precious Metals (TRU) has closed a non-brokered private placement for gross proceeds of $1,468,800.
The company raised gross proceeds of $888,600 from flow-through units priced at $0.14 per unit and $387,700 from hard dollar units priced at $0.125 per unit.
TRU Co-Founder and CEO Joel Freudman commented on the capital raise.
“This capital raise will allow us to continue upon our early success at our regional-scale Golden Rose Project, where we continue to achieve increasingly exciting results in our exploration program as we advance towards drilling at the highly prospective Jacob’s Pond area. I am especially pleased that we raised funds despite these turbulent markets. We are delighted by the support of Sprott Asset Management and welcome the Marquest Advantaged Mining 2022 Super Flow-Through LP as a new TRU shareholder. The broad participation of our management and board in the offering, and in particular a significant investment by Resurgent Capital Corp., is a clear signal of our faith in our strategy and the discovery potential of Golden Rose.”
Warrants are subject to an acceleration clause.
Subscriptions by company insiders accounted for $171,250 of the gross proceeds of the offering.
The securities issued are subject to a statutory hold period expiring September 18, 2022.
Eligible finders received a cash commission equal and finder warrants.
TRU Precious Metals is engaged in the acquisition and exploration of gold properties. Its projects include Golden Rose and Twilite Gold projects in Newfoundland.
TRU Precious Metals Corp. (TRU) opened trading at C$0.10 per share.