- TRU Precious Metals (TRU) has closed a C$3.5 million flow-through financing with participation from Eric Sprott
- The company issued 12,960,186 flow-through units priced at $0.27 per unit
- It will use the proceeds to fund exploration programs at the Golden Rose Project and the Twilite Gold Project
- TRU is focused on five gold exploration properties in the highly prospective Central Newfoundland Gold Belt
- TRU Precious Metals (TRU) is up by 15.87 per cent, trading at $0.365 per share as of 10:24 am ET
TRU Precious Metals (TRU) has closed a C$3.5 million flow-through financing with participation from Eric Sprott.
The company completed its non-brokered private placement for gross proceeds of $3,499,250. Pursuant to the offering, TRU issued 12,960,186 flow-through units priced at $0.27 per unit.
Each unit is comprised of one TRU common share and one flow-through common share purchase warrant.
Each warrant is exercisable into one TRU common share priced at $0.35 until June 17, 2024.
TRU will use the proceeds to fund exploration programs in the Central Newfoundland Gold Belt and other Canadian exploration expenses that qualify as flow-through mining expenditures, including:
- A comprehensive two-phase exploration program at the Golden Rose Project
- A targeted and recently-expanded phase one drilling program at the Twilite Gold Project
Joel Freudman, co-founder and CEO of TRU, commented,
“I am very pleased to welcome Eric Sprott as a major shareholder of TRU. Mr. Sprott’s participation in this financing is a huge vote of confidence in the company and the potential of our district-scale land package in the Central Newfoundland Gold Belt.
We are also encouraged that the offering was fully subscribed by institutional investors right from the start, including funds managed by Sprott Asset Management LP, which we consider a testament to our progress to date and our prospects going forward.
This funding will allow TRU to proceed with an aggressive and comprehensive exploration program in summer 2021 and beyond, across our entire portfolio in the region.”
TRU is focused on five gold exploration properties in the highly prospective Central Newfoundland Gold Belt.
TRU Precious Metals (TRU) is up by 15.87 per cent, trading at $0.365 per share as of 10:24 am ET.
