Trans Canada Gold plans C$1.5M private placement for phase 2 drilling

Trans Canada Gold Corp. (TSXV: TTG)(OTCQB: TTGXF) announced a non-brokered private placement of up to C$1.5 million to fund phase 2 drilling at its Harrison Lake Gold Project in southwestern British Columbia.

The offering consists of two components. The first is a flow-through unit offering of up to 3,947,368 units at C$0.19 per unit, targeting gross proceeds of up to C$750,000. The second is a non-flow-through offering of up to 4,411,764 units at C$0.17 per unit, also targeting up to C$750,000. Each unit in both offerings 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.

The offering is subject to TSX Venture Exchange approval, and all issued securities will carry a four-month hold period. Closing is expected by mid-October 2026. A 15% over-allotment option could raise an additional C$225,000.

Proceeds from the flow-through portion will be applied to eligible Canadian exploration expenditures and renounced for the 2026 tax year. The full C$1.5 million is budgeted for phase 2 underground and surface drilling, along with general working capital.

Phase 2 underground drilling costs include geological modeling, mobilization, a minimum of 2,500 meters of drilling, compliance, and assaying. Surface drilling plans include 1,500 meters across 15 holes, geological supervision, and assaying.

The company stated that phase 1 underground drilling has been completed. Drill core is being catalogued and prepared for analysis using the Photon Assay method, which the company said has previously increased grade results on the property.

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