Trans Canada Gold closes first tranche of private placement at C$2.1M

Trans Canada Gold Corp. (TSXV: TTG) (OTCQB: TTGXF) has closed the first tranche of a non-brokered private placement, raising gross proceeds of C$2,144,720, according to a company statement.

The financing consisted of two components. The company issued 7,850,784 flow-through units at C$0.19 per unit, generating C$1,491,649, and 3,841,590 non-flow-through units at C$0.17 per unit, generating C$653,070. Each unit includes one common share and one-half of a share purchase warrant, with whole warrants exercisable at C$0.30 per share for two years from issuance.

All securities issued in the first tranche are subject to a four-month hold period ending February 10, 2027.

The company intends to use proceeds from the flow-through portion for eligible Canadian exploration expenditures at its Harrison Lake Gold Project in southwestern British Columbia, with those expenditures to be renounced for the 2026 tax year. The broader use of proceeds includes approximately C$1,700,000 for Phase 2 exploration and drilling costs, with a C$400,000 reserve for potential participation in future drill programs at the company's Lloydminster, Alberta oil and gas property.

In connection with the first tranche, Trans Canada Gold paid cash commissions totaling C$148,940 and issued 811,465 finders' warrants exercisable at C$0.30 per share for two years. The company also paid a C$50,000 corporate finance fee to EMD Financial.

Trans Canada Gold expects to close a second tranche by October 26, 2026. The total offering targets up to C$2,500,000, with a 15% over-allotment option that could raise an additional C$375,000.

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