Trans Canada Gold raises $869,711 to fund Harrison Lake drilling program

Trans Canada Gold Corp. (TSXV: TTG) completed a non-brokered private placement raising gross proceeds of $869,711, according to a company statement. The financing consisted of two tranches, with the second and final tranche placing 100,000 non-flow through units at $0.15 per unit for $15,000.

The combined offering included 3,616,663 non-flow through units at $0.15 per unit and 1,817,839 flow through units at $0.18 per unit. Each non-flow through unit includes one common share and one warrant exercisable at $0.30 for three years. Each flow through unit contains one common share and half a warrant exercisable at $0.30 for two years.

Trans Canada Gold paid $43,843 in finder's fees and issued 272,070 finder's warrants for the first tranche. The company reported that one insider participated in the offering, subscribing for 333,333 units for $50,000.

The company plans to allocate proceeds toward acquiring the Harrison Lake Gold Property in southwestern British Columbia, including $50,000 for due diligence costs and $50,000 for initial acquisition payments to Bear Mountain Gold Mines. The company budgeted $600,000 for first-year exploration activities and $169,711 for working capital.

Planned exploration work includes 1,000 meters of underground drilling, 500 meters of drilling in the Hill Zone and Portal Zone, underground rehabilitation, and equipment upgrades. The flow-through portion will fund eligible Canadian exploration expenditures to be renounced for the 2026 tax year.

Securities from the first tranche carry a hold period until August 8, 2026, while second tranche securities are restricted until September 8, 2026.

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