Trans Canada Gold Increases Non-Brokered Private Placement from $1.5 Million CDN to $2.5 Million CDN
Existing shareholders may participate under a prospectus exemption if they meet the stated holding requirements.
Rhea-AI Summary
Trans Canada Gold (TTGXF) increased its proposed non-brokered private placement from C$1.5 million to up to C$2.5 million. It proposes up to 7,894,737 flow-through units at C$0.19 each and up to 5,882,353 non-flow-through units at C$0.17 each. Each unit contains one share and half a warrant. Each whole warrant can buy one common share at C$0.30 for two years from issuance.
A 15% over-allotment option would allow the company to sell additional units. Closing is expected by mid-October 2026, subject to TSX Venture Exchange approval, and issued securities will have a four-month hold period. The company plans to use proceeds for Phase 2 underground and surface drilling at the Harrison Lake Gold Project in British Columbia and for general working capital. Its drilling budget is approximately C$1.7 million, including a 15% contingency.
Negative
- Up to 7,894,737 flow-through units proposed at C$0.19 each.
- Up to 5,882,353 non-flow-through units proposed at C$0.17 each.
AI-generated analysis. How Rhea-AI works. Not financial advice.
VANCOUVER, BC / ACCESS Newswire / September 28, 2026 / Trans Canada Gold Corp. (TSXV:TTG)(OTCQB:TTGXF) ("Trans Canada" or the "Company"), is pleased to announce an increase to its previously announced CDN
- Up to 7,894,737 units to be issued on a "flow-through" basis (the "FT Units") under applicable tax law at a subscription price of
$0.19 per FT Unit, for total gross proceeds of up to$1,500,000 (exclusive of the proceeds on the exercise of the warrants accompanying the FT Units) (the "Flow-Through Unit Offering"). Each FT Unit will consist of one (1) flow-through common share of the Company 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). - Up to 5,882,353 units (the "Units"), in a non-flow-through private placement (the "NFT Offering"), at a subscription price of CDN
$0.17 per Unit for total gross proceeds of up to$1,000,000 . (exclusive of the proceeds on the exercise of the warrants accompanying the Units). Each Unit will consist of one (1) common share of the Company 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.
The Flow-Through Unit Offering and the NFT Offering together, the "Offering", are subject to approval from the TSX Venture Exchange and all of the securities issued pursuant to the Offering will be subject to a four month hold period from the date of issue in accordance with applicable securities laws.
The Company proposes to use the net proceeds from the Flow-Through Unit 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. Closing of the Offering is expected to occur by mid-October 2026.
The Offering will be conducted on a private placement basis in accordance with prospectus exemptions under applicable securities laws.
The Company intends to use the proceeds of the Offering for Phase 2 exploration and underground and surface drilling costs for the Property (approximately
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, (
Phase 2- Surface Drilling expenditures on the property are budgeted as follows: Geological Supervision surface exploration work (
In addition to other prospectus exemptions commonly relied on in private placements, the Offering will be available to existing shareholders of the Company who, as of the close of business on Sept 13th , 2026, held common shares of the Company (and who continue to hold such common shares as of the closing date), pursuant to the prospectus exemption set out in BC Instrument 45-534 - Exemption From Prospectus Requirement for Certain Trades to Existing Security Holders and in similar instruments in other jurisdictions in Canada (the "Existing Shareholder Exemption"). The Existing Shareholder Exemption limits a shareholder to a maximum investment of CAD
The Company will also make the Offering available to certain subscribers pursuant to BC Instrument 45-536 - Exemption from Prospectus Requirement for Certain Distributions Through an Investment Dealer (the "Investment Dealer Exemption"). In accordance with the requirements of the Investment Dealer Exemption, the Company confirms that there is no material fact or material change about the Company that has not been generally disclosed.
OVER-ALLOTMENT OPTION
The Offering is subject to a
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 could Trans Canada Gold raise through the placement?
Trans Canada Gold proposes to raise up to C$2.5 million before any over-allotment. The flow-through units account for up to C$1.5 million, and the non-flow-through units account for up to C$1 million. The 15% over-allotment option permits sales of additional units.
What could Trans Canada Gold sell under the placement’s over-allotment option?
The 15% over-allotment option permits Trans Canada Gold to sell up to an additional 882,353 non-flow-through units for gross proceeds of up to $150,000 and 1,184,210 flow-through units for gross proceeds of up to $225,000.