TRANS CANADA GOLD CORP. ("TTG")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement, Private Placement Non-Brokered
BULLETIN DATE: June 1, 2023
TSX Venture Tier 2 Company
Property-Asset or Share Purchase Agreement
TSX Venture Exchange (the "Exchange") has accepted for filling the documentation pertaining to a farmout agreement (the "Farmout Agreement") between the Company and several other parties (collectively, "Farmees") and an arm's length party (the "Farmor") whereby Farmees will pay 100% expenditure of the a 760-meter monobore multilateral horizontal oil well (the "Test Well"), in the LIoydminster, Alberta Farmout Lands, and effective as of the drilling rig release date of the Test Well, Farmees will earn 75% of the Farmor's pre-earning working in the Farmout Lands. In respect of the Test Well, the Company will contribute approximately $425,000 cash, representing 25% of the total drilling completion and equipping costs; Company will earn 18.75% net working interest, and the Farmor will carry for 6.25% net interest. Any additional costs or considerations associated with the Farmout Agreement may be subject to further Exchange approval, in accordance with the applicable Exchange policies.
For further details, please refer to the Company's news releases dated October 12, 2022, January 10, 2023, April 13, 2023 and May 17, 2023.
Private Placement Non-Brokered
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced October 12, 2022 and April 13, 2023:
Number of Shares: 10,000,000 shares
Purchase Price: $0.05 per share
Warrants: 10,000,000 share purchase warrants to purchase 10,000,000 shares
Warrant Exercise Price: $ 0.15 for a three-year period
Number of Placees: 8 placees
Insider / Pro Group Participation:
Placees # of Placee (s) Aggregate # of Shares
Aggregate Existing Insider Involvement: 5 5,000,000
Aggregate Pro Group Involvement: N/A N/A
Aggregate Cash Amount Aggregate #
of Shares Aggregate #
of Warrants
Finder's Fee: N/A N/A N/A
The Company issued news releases on May 17, 2023 confirming closing of the private placement. Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.
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