Trans Canada Gold Closes First Tranche of Non-Brokered Private Placement for Gross Proceeds of CDN $2,144,720

Planned spending includes approximately $1,700,000 for Harrison Lake exploration and drilling, plus a conditional oil-drilling reserve.

Rhea-AI Summary

Trans Canada Gold (TTGXF) closed the first tranche of its non-brokered private placement, raising CDN $2,144,720 in gross proceeds. It issued 7,850,784 flow-through units at $0.19 and 3,841,590 non-flow-through units at CDN $0.17. Each unit includes one common share and half a warrant; whole warrants permit share purchases at $0.30 for two years.

The company plans approximately $1,700,000 for Harrison Lake Phase 2 exploration and drilling, including contingency, and a $400,000 reserve for conditional participation in future Lloydminster oil drilling. It expects a second tranche by October 26, 2026, under an offering of up to $2,500,000 with a 15% over-allotment option. First-tranche costs included $148,940.35 in cash commissions, 811,465 finders' warrants and a $50,000 corporate finance fee. Securities have a hold period ending February 10, 2027.

6 points · 1 major

MixediHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

2 major · 6 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Major pointFirst-tranche financing raised CDN $2,144,720 in gross proceeds.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Harrison Lake Phase 2 exploration and drilling has a planned approximately $1,700,000 budget, including 15% contingency.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Second-tranche funding is expected by October 26, 2026, within an offering of up to $2,500,000.
• Minor point. Forward-looking: it has not happened yet and may not happen.Underground drilling plans include a minimum 2,500 meters at Harrison Lake.
• Minor point. Forward-looking: it has not happened yet and may not happen.Surface drilling plans include 1500 meters across 15 holes at Harrison Lake.
• Minor point. Forward-looking: it has not happened yet and may not happen.The 15% over-allotment option permits up to $150,000 additional non-flow-through and $225,000 additional flow-through proceeds.

Negative

• Major point7,850,784 flow-through units at $0.19 issue shares plus half-warrants, exercisable at $0.30 for two years.
• Major point3,841,590 non-flow-through units at CDN $0.17 issue shares plus half-warrants, exercisable at $0.30 for two years.
• Minor pointFirst-tranche cash commissions cost $148,940.35, representing 7% of cash raised from finder-introduced investors.
• Minor pointA corporate finance fee of $50,000 was paid to EMD Financial.
• Minor point. Forward-looking: it has not happened yet and may not happen.811,465 finders' warrants permit additional common-share issuance at $0.30 per share for two years.
• Minor point. Forward-looking: it has not happened yet and may not happen.The planned $400,000 Lloydminster drilling reserve depends on exercising participation rights under the farmout agreement.

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VANCOUVER, BC / ACCESS Newswire / October 9, 2026 / Trans Canada Gold Corp. (TSXV:TTG)(OTCQB:TTGXF) ("Trans Canada" or the "Company"), is pleased to announce that it has closed the first tranche of its previously announced CDN$2.5 Million non-brokered private placement (the "Offering") (see news releases dated September 14^th and 28^th, 2026). The Company has closed on proceeds of CDN $2,144,720 in the first tranche of the private placement financing by issuing:

• 7,850,784 units on a "flow-through" basis (the "FT Units") under applicable tax law at a subscription price of $0.19 per FT Unit, for aggregate gross proceeds of $1,491,649. Each FT Unit consists of one (1) flow-through common share and one-half (1/2) of one share purchase warrant, each whole warrant exercisable into one (1) non-flow-through common share at an exercise price of $0.30 per share for a period of two (2) years from the date of issuance. Each flow-through share qualifies as a "flow-through share" for the purposes of the Income Tax Act (Canada).

• 3,841,590 non-flow through units (the "Units") at a subscription price of CDN $0.17 per Unit for aggregate gross proceeds of $653,070. Each Unit will consist of one (1) common share and one-half (1/2) of one share purchase warrant, each whole warrant exercisable into one (1) non-flow through common share at an exercise price of $0.30 per share for a period of two (2) years from the date of issuance.

All securities issued in the first tranche closing will be subject to a four month hold period ending on February 10, 2027 in accordance with applicable securities laws.

The Company proposes to use the net proceeds from the flow-through portion of the Offering for eligible Canadian exploration expenditures (as defined in the Income Tax Act (Canada) in connection with its exploration drilling activities at the Harrison Lake Gold Project area, located in southwestern British Columbia (the "Property"). These expenditures will be renounced for the 2026 tax year.

The Company intends to use the proceeds of the Offering for Phase 2 exploration and underground and surface drilling costs for the Property (approximately $1,700,000 budget including 15% contingency) and general working capital, which will include a $400,000 reserve for participation in future drill programs on the company's Lloydminster, Alberta oil and gas property (should the Company exercise its right to participate in future drill programs under the applicable farmout agreement).

PHASE 2 - SURFACE & UNDERGROUND DRILLING/HARRISON LAKE DISTRICT SCALE GOLD PROJECT-PROPOSED BUDGETS

PHASE 2- Underground Drilling expenditures on the Property are budgeted as follows: Supervision, 3-D Geological modelling, ($100,000), Mobilization & Technical Support ($100,000), completing minimum 2,500 meters of underground drilling ($375,000), First Aid and Mine Act Compliance ($100,000), Assaying ($75,000), contingency ($100,000).

PHASE -2- Surface Drilling expenditures on the property are budgeted as follows: Geological Supervision surface exploration work ($150,000), Mobilization & Technical Support ($100,000), Drilling 1500 meters, 15 Holes ($225,000), Assays ($150,000) and a 15% contingency.

SECOND TRANCHE

The Company expects to close on additional funds in a second tranche, to be announced at a later date. As noted in a prior news release, the aggregate Offering consists of an offering of up to 7,894,737 FT Units and up to 5,882,353 Units for aggregate gross proceeds of up to $2,500,000. The Offering is subject to a 15% over-allotment option pursuant to which the Company may sell up to an additional 882,353 Units for aggregate gross proceeds of up to an additional $150,000 and up to an additional 1,184,210 FT Units for aggregate gross proceed of up to an additional $225,000. Closing of the second tranche is expected to occur by October 26, 2026.

FINDERS' FEES

In connection with the first tranche closing, the company paid cash commissions in the aggregate amount of $148,940.35 and issued 811,465 finders' warrants, each finders' warrant exercisable into one (1) common share at an exercise price of $0.30 per share for a period of two (2) years from the date of issuance. The cash commission represents 7% of the cash raised from investors introduced to the Company by the finders. The finders' warrants are equal in number to 7% of the number of Units and FT Units purchased by investors introduced to the Company by the finders. The Company also paid a corporate finance fee of $50,000 to EMD Financial in connection with the first tranche closing.

ABOUT TRANS CANADA GOLD CORP. - GOLD & MINERAL EXPLORATION/OIL AND GAS PRODUCTION/REVENUE PRODUCING OIL WELLS

The Company is a Canadian discovery focused Gold Exploration company focused on acquiring and drilling advanced gold, silver and critical base metal mineral assets situated in Canada and Oil & Gas Resource Development Exploration Company that is currently focused on developing and drilling its' production of conventional heavy oil exploration opportunities, increasing production capabilities, and increasing future oil production revenues through responsible exploration. The Company identifies, acquires and finances with its working interest partners, the ongoing development of oil and gas assets, primarily situated in Alberta Canada. The Company has qualified Senior exploration mining management and oil & gas Geological teams of professionals, seasoned in exploration production, field exploration and drilling. The Company currently works with Croverro Energy Ltd., who has demonstrated proficiency, expected of an experienced oil and gas technical team that has proven oil production, and revenue success with large multi-lateral wells currently under their supervision. The Company has the necessary manpower in place to develop its natural resource properties and manage its production properties. The Company is committed to minimizing risk through selective property acquisitions, and responsible exploration drilling, and maximizing long term gold and strategic mineral and petroleum and natural gas resource assets.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Tim Coupland, President and CEO
Trans Canada Gold Corp.
Tel: (604) 681-3131
astar@telus.net
www.transcanadagold.com

Mario Drolet
President
MI3 Communications Financieres Inc., Montreal Quebec
Tel: (514) 904-1333
Cell: ((514) 340-3813
E-Mail: Mario@mI3.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider, (as the term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Trans Canada Gold Corp.

View the original press release on ACCESS Newswire

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much did Trans Canada Gold raise in its first private-placement tranche?

Trans Canada Gold raised CDN $2,144,720 in first-tranche gross proceeds. It issued 7,850,784 flow-through units at $0.19 each and 3,841,590 non-flow-through units at CDN $0.17 each. Each unit includes one common share and half a share purchase warrant.

When does Trans Canada Gold expect to close the second private-placement tranche?

Trans Canada Gold expects the second tranche to close by October 26, 2026. The aggregate offering covers up to $2,500,000 in gross proceeds, with a 15% over-allotment option permitting additional sales of both flow-through and non-flow-through units.

How will Trans Canada Gold use the flow-through financing proceeds?

Trans Canada Gold proposes to use the net flow-through proceeds for eligible Canadian exploration expenditures connected with drilling at the Harrison Lake Gold Project in southwestern British Columbia. These expenditures will be renounced for the 2026 tax year.

What drilling does Trans Canada Gold plan for Harrison Lake Phase 2?

The proposed Harrison Lake Phase 2 program includes a minimum 2,500 meters of underground drilling and 1500 meters of surface drilling across 15 holes. The company plans approximately $1,700,000 for Phase 2 exploration and underground and surface drilling costs, including 15% contingency.