TRIGOLD RESOURCES INC. (the “Company” and “Trigold”) (TSX-V: “TGD”) announces it has closed the first tranche of the financing previously announced on June 16, 2015. The Company issued 2,165,000 non-flow-through units (“NFT Units”) for gross proceeds of $216,500. Each NFT Unit consists of one common share and one- half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of the Company at a price of $0.15 for a period of 12 months from the date of closing. The proceeds from the sale of NFT Units will be used for general working capital.
In addition to the NFT Units, the Company issued 85,000 flow-through common shares for gross proceeds of $10,200. The gross proceeds from the flow-through common shares will be used to incur Canadian exploration expenses as defined by the Income Tax Act (Canada) by December 31, 2015. Proceeds from the sale of the flow-through common shares will be used to advance the Muskox and Hood River diamond projects located in Nunavut, Canada.
The Company also issued an aggregate of 31,800 finders’ warrants and paid $6,360 to finders in connection with the first tranche of the financing. The finders’ warrants entitle the finders to purchase one common share of the Company at a price of $0.15 for a period of 12 months from the date of closing.
The Company expects to close a second tranche of the financing in the near future consisting of up to 5,335,000 NFT Units and 6,165,000 flow-through common shares.
All securities issued pursuant to closing of the first tranche of the financing are subject to a hold period expiring four-months plus one day from the closing date.
ON BEHALF OF THE BOARD OF DIRECTORS
s/ “Jim Greig”
President and Chief Executive Officer
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.