Source: Tres-Or Resources.
Market Herald logo

Find out more about this capital raise

Be the first with the news that moves the market
  • Tres-Or (TRS) has announced a non-brokered private placement of up to C$550,000
  • The company will use the proceeds from flow-through units for a 2021-2022 exploration program to complete the Guigues Project’s first test for macrodiamonds
  • It will use proceeds from common share units to fund exploration, property-related expenses and for general corporate and working capital purposes
  • The placement is expected to close on or about December 31, 2021
  • Tres-Or Resources is focused on exploring for diamonds and gold in the Témiscamingue and Abitibi regions of Québec
  • Tres-Or (TRS) is unchanged trading at $0.11 per share

Tres-Or (TRS) has announced a non-brokered private placement of up to C$550,000.

It intends to issue a minimum of 2,500,000 common share (CS) units priced at $0.10 per unit for gross proceeds of $250,000.

Each CS unit consists of one common share and one-half of one transferable common share purchase warrant.

Each CS warrant entitles the holder to purchase one common share for $0.20 for two years from the date of issue.

The company will use proceeds from CS units to fund exploration, property-related expenses and for general corporate and working capital purposes.

The company also intends to issue up to 2,500,000 flow-through (FT) units priced at $0.12 per unit for gross proceeds of up to $300,000.

Each FT unit consists of one FT common share and one-half of one non-transferable common share purchase warrant.

Each FT warrant entitles the holder to purchase one non-flow-through common share for $0.20 for two years from the date of issue.

The company will use the proceeds from FT units for Canadian exploration expenses that qualify as flow-through mining expenditures – as defined in the Income Tax Act (Canada) – on its Guigues Project in Québec. This includes a previously announced 2021-2022 exploration program to complete the project’s first test for macrodiamonds.

The FT shares will entitle the holder to receive tax benefits in accordance with the Income Tax Act (Canada).

The flow-through expenditures will be renounced to subscribers with an effective date of no later than December 31, 2021, in an amount not less than the gross proceeds raised from the issuance of FT units.

The placement is expected to close on or about December 31, 2021.

Tres-Or Resources is focused on exploring for diamonds and gold in the Témiscamingue and Abitibi regions of Québec.

Tres-Or (TRS) is unchanged trading at $0.11 per share as of 9:31 am EST.

More From The Market Herald

" Victoria Gold (TSXV:GCX) reports Q2 2022 results

Victoria Gold (GCX) released its Q2 2022 results, mostly stemming from its Eagle Gold Mine in Yukon.

" Sandstorm Gold receives court approval for Nomad Royalty (TSX:NSR) acquisition

Nomad Royalty Company (NSR) announced that the Superior Court of Québec has issued a final order approving its acquisition by Sandstorm Gold Ltd.
Grizzly Discoveries Inc. - President & CEO, Brian Testo

" Grizzly (TSXV:GZD) to begin drilling targets

Grizzly Discoveries Inc. (GZD) has announced plans to begin drilling on the Greenwood Project before the end of this month.