Trans Canada Gold Corp. Announces $1.5 Million Private Placement for Drilling Project

Trans Canada Gold Corp. has unveiled plans to raise $1.5 million CAD through a non-brokered private placement. The funds will support Phase 2 of exploration drilling at the Harrison Lake Gold Project in British Columbia. The company aims to issue 3,947,368 flow-through units at $0.19 each for $750,000, with each unit including a flow-through share and half a warrant for non-flow-through shares at $0.30. Additionally, 4,411,764 non-flow-through units will be offered at $0.17 each, totaling another $750,000.

Net proceeds are designated for Canadian exploration expenses and general working capital. Phase 1 of drilling is complete, with promising results. The placement is subject to TSX Venture Exchange approval, and all securities will carry a four-month hold period from issue. An over-allotment option enables additional unit sales if demand exceeds expectations.