Taiga Closes $1,400,000 Financing
CRANBROOK, February 12, 2020 - Taiga Gold Corp. (CSE:TGC) (the "Company") announces that it has closed a non-brokered private placement to arms-length and non-arms-length investors which was comprised of 15,551,273 non-flow-through units for gross proceeds of CDN $1,399,615. The financing was originally announced on January 21st, 2020, with an increase announced on January 28th, 2020.
Non-flow-through units were sold at a price of CDN $0.09 per unit, with each unit consisting of a non-flow-through common share and one non-flow-through common share purchase warrant, each whole warrant exercisable at CDN $0.18 for a 24-month period.
The common share purchase warrants are subject to an accelerated expiry at the option of the Company if the published closing trade price of the common shares on the Canadian Securities Exchange ("CSE") is greater than or equal to CDN $.50 for any 10 consecutive trading days, in which event the holder may be given notice that the warrants will expire 30 days following the date of such notice. The common share purchase warrants may be exercised by the holder during the 30 day period between the notice and the expiration of the common share purchase warrants.
A 7% commission or finder's fee was paid to certain registered dealers or qualified arms-length third parties involved in the financing.
Proceeds from the sale of units will be used to for general working capital and to further development of the company's various projects in Saskatchewan.
About Taiga Gold Corp
Taiga Gold Corp. was created through a plan of arrangement with Eagle Plains Resources Ltd. and was listed on the CSE in April, 2018 under the symbol "TGC". The company owns 5 projects targeting gold in the area near the Seabee Gold Operation, owned and operated by SSRM. Taiga's flagship Fisher property is currently being explored by SSRM under option from Taiga.
Taiga's objective is to focus on the exploration and development of its gold projects adjacent the Seabee Gold Operation and along the Tabbernor Fault structure. Taiga's projects are located in eastern Saskatchewan, a highly-prospective mining jurisdiction which is highly ranked by the Fraser Institute as one of the best jurisdiction in Canada in terms of overall investment attractiveness. Throughout the exploration and development process, the Company's mission is to help maintain prosperous communities by exploring for and discovering resource opportunities while building lasting relationships through honest and respectful business practices.
On behalf of the Board of Directors
"Tim J. Termuende"
President and CEO
For further information on TGC, please contact Mike Labach at
1 866 HUNT ORE (486 8673)
Email: info@taigagold.com or visit our website at http://taigagold.com
Cautionary Note Regarding Forward-Looking Statements
Neither the CSE nor any other regulatory body has reviewed or approved the contents of this news release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming financings, work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE: Taiga Gold Corp.
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