Taurus Gold Corp. Announces Intention to Close First Tranche of Private Placement
Rhea-AI Summary
Taurus Gold Corp. (CSE: TAUR) (OTCQB: TARGF) has announced its intention to close the first tranche of a non-brokered private placement on October 9, 2024. The company plans to issue 920,000 units at $0.05 per unit, raising gross proceeds of $46,000. Each unit consists of one common share and one-half common share purchase warrant. Each whole warrant allows the purchase of one common share at $0.10 for 24 months from issuance.
The securities issued in this tranche will have a four-month and one-day hold period. Funds raised will be used for general working capital purposes. While the company may pay finder's fees for the overall private placement, none were paid for this first tranche. The private placement is subject to approval from the Canadian Stock Exchange.
Positive
- Raising $46,000 in gross proceeds through private placement
- Potential for additional capital through warrant exercise at $0.10 per share
- Funds to be used for general working capital, potentially improving financial flexibility
Negative
- Small size of the private placement ($46,000) may not significantly impact the company's financial position
- Potential dilution for existing shareholders due to issuance of new shares and warrants
- Four-month and one-day hold period may limit immediate liquidity for new investors
News Market Reaction 1 Alert
On the day this news was published, TARGF gained 16.40%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - October 2, 2024) - Taurus Gold Corp. (CSE: TAUR) (OTCQB: TARGF) ("Taurus" or the "Company") is pleased to announce that it intends to close the first tranche (the "First Tranche") of its previously announced non-brokered private placement of units (the "Private Placement") on October 9, 2024, whereby the Company intends to issue 920,000 units (each, a "Unit") at a price of
Each Unit shall consist of one common share in the capital of the Company (a "Share") and one-half common share purchase warrant of the Company ("Warrant"). Each whole Warrant entitles the holder to purchase one Common Share (a "Warrant Share") for a period of twenty-four (24) months from the date of issue at an exercise price of
The securities to be issued pursuant to the First Tranche are subject to a four month and one day hold from the date of issuance.
The funds raised pursuant to the Private Placement shall be for general working capital purposes (general and administrative).
Although the Company may pay a finder's fee to eligible persons in compliance with applicable securities laws and exchange policies in connection with the Private Placement, no finder's fees were paid in connection wit the First Tranche. The Private Placement remains subject to the approval of the Canadian Stock Exchange.
About Taurus Gold Corp.
Taurus Gold Corp. currently has approx. 37 million shares outstanding and is a mineral exploration company with a focus on gold exploration. Taurus Gold Corp. has a
Frank Lagiglia
President and Chief Executive Officer
info@taurusgold.ca
Taurus Gold Corp. Phone: 604-512-0972
Forward-looking Information:
This news release contains "forward-looking information" or "forward-looking statements" within the meaning of Canadian securities legislation. All statements included herein are forward-looking, other than statements of historical fact. Generally, the forward-looking information and forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "is expected", or "will continue", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information and forward-looking statements, while based on management's best estimates and assumptions, are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of Taurus Gold to be materially different from those expressed or implied by such forward-looking information or forward-looking statements. Although Taurus Gold has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information and forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information or statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information or statements. The forward-looking statements and forward-looking information are made as of the date hereof and Taurus Gold disclaims, except as required by applicable securities laws, any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements or forward-looking information contained herein to reflect future results. Accordingly, readers should not place undue reliance on forward-looking statements and information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225417
FAQ
What is the price per unit in Taurus Gold Corp's private placement?
How many units is Taurus Gold Corp issuing in the first tranche of its private placement?
What is the exercise price of the warrants in Taurus Gold Corp's private placement?
When does Taurus Gold Corp plan to close the first tranche of its private placement?
