White Rock, British Columbia, November 10, 2021—TDG Gold Corp (TSXV: TDG) (the “Company” or “TDG”) is pleased to announce that it will conduct a non-brokered private placement to raise gross proceeds of up to C$5 million (the “Offering”).
The Offering will comprise a combination of:
- A non-flow through unit (“NFT Unit”) at a price of C$0.50 per NFT Unit – Each NFT Unit will consist of one common share of the Company (each, a “Share”) and one-half of one Share purchase warrant (each whole warrant, a “Warrant”). One Warrant entitles the holder thereof to purchase one Share of the Company at a price of C$0.75 per Share for a period of twenty-four months from the closing date of the Offering (the “Closing Date”).
- A flow-through Share (“FT Share”) priced at C$0.65 per FT Share.
- A flow-through unit (“FT Unit”) at a price of C$0.725 – Each FT Unit will consist of one Share and one-half of one Warrant. One Warrant entitles the holder thereof to purchase one Share of the Company at a price of C$0.75 per Share for a period of twenty-four months from the Closing Date.
Finder’s fees will be payable on the Offering, subject to the acceptance of the TSX Venture Exchange (the “Exchange”).
The Company entered into a binding, definitive agreement (“Agreement”), as amended, with ASX-listed Kingsgate Consolidated Limited (“Kingsgate”) for the acquisition of the advanced-stage “Nueva Esperanza” silver-gold project (the “Project”), located in the Maricunga Belt of the Atacama Region of Northern Chile (the “Acquisition”). The Company has made its first property payment of C$500,000 to Kingsgate (see the Company’s news release November 2, 2021). The Company intends to use the proceeds of the NFT Units to fund payment of the C$1,000,000 due to Kingsgate by November 30, 2021, for transition planning of the Project to the Company and for general working capital purposes.
The Company intends to use the proceeds of the FT Share and FT Unit portion of the Offering to commission an independent estimation of the mineral resource at the Company’s Shasta project and ongoing general exploration at the Company’s Toodoggone projects.
The Offering is subject to the acceptance of the Exchange. The Company reserves the right to increase the size of the Offering or to modify the type, nature and/or price of the Offering for any reason, subject to the acceptance of the Exchange.
About TDG Gold Corp.
TDG is a major mineral claim holder in the historical Toodoggone Production Corridor of north-central British Columbia, Canada, with over 23,000 hectares of brownfield and greenfield exploration opportunities under direct ownership or earn-in agreement. TDG’s flagship projects are the former producing, high-grade gold-silver Shasta, Baker and Mets mines, which are all road accessible, produced intermittently between 1981-2012, and have over 65,000 m of historical drilling. In 2021, TDG has advanced the projects through compilation of historical data, new geological mapping, geochemical and geophysical surveys, and, for Shasta, drill testing of the known mineralization occurrences and their extensions. The Company has entered into a binding agreement to acquire the Nueva Esperanza silver-gold advanced exploration and development project located in the Maricunga Belt of northern Chile, subject to closing conditions being satisfied. TDG currently has 70,867,903 common shares issued and outstanding.
ON BEHALF OF THE BOARD
Fletcher Morgan
Chief Executive Officer
For further information contact:
TDG Gold Corp.,
Telephone: +1.604.536.2711
Email: info@tdggold.com
