Trans Canada Gold updates private placement for Harrison Lake drilling

Trans Canada Gold Corp. (TSXV:TTG)(OTCQB: TTGXF) announced updates on its private placement offering and option agreement for the Harrison Lake Gold Property in British Columbia, according to a company statement.

The private placement consists of two components: a non-flow through offering of 10 million units at C$0.15 per unit to raise up to C$1.5 million, and a flow-through offering of 2.78 million units at C$0.18 per unit to raise up to C$500,000. Each non-flow through unit includes one common share and one warrant exercisable at C$0.30 for three years. Each flow-through unit includes one common share and half a warrant exercisable at C$0.30 for two years.

The company plans to allocate proceeds toward due diligence and acquisition costs for the Harrison Lake property ($50,000 each), first-year exploration expenditures ($600,000), future exploration reserves ($1 million), and working capital ($300,000). The offering includes a 15% over-allotment option and is subject to TSX Venture Exchange approval.

First-year exploration activities include upgrading core logging facilities ($25,000), underground rehabilitation and drill site preparation ($100,000), minimum 1,000 meters of underground drilling ($150,000), and various other drilling and infrastructure improvements totaling $600,000.

The company entered an option agreement on February 2, 2026, to acquire a 60% interest in the Harrison Lake Gold Property. The agreement requires $250,000 in cash payments, $5 million in exploration expenditures, and issuance of 10 million company shares over five years. The property will be subject to a 2% net smelter return royalty.

Closing of the offering is expected by early April 2026, pending TSX Venture Exchange approval and completion of sufficient funding to cover year-one exploration expenditures and cash option payments.

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