Trillium Gold Mines Inc. Announces Shares for Debt Settlement
Vancouver, British Columbia, Canada - TheNewswire - July 3, 2020, Trillium Gold Mines Inc. (TSXV:TGM) ("Trillium Gold" or the "Company") (formerly known as Confederation Minerals Ltd.) announces that the Company intends to settle a total of $458,100 of debt (the "Debt") with two arm's length parties (the "Shares for Debt Settlement") pursuant to debt settlement agreements. The Company will settle the Debt by issuing 497,934 common shares of the Company at a deemed price of $0.92 per common share.
The Company negotiated the Shares for Debt Settlement in light of the Company's current working capital position and in order to preserve capital to fund the continued development of the Company's mineral projects.
All securities issued in connection with the Shares for Debt Settlement will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.
Closing of the Shares for Debt Settlement is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the TSX Venture Exchange.
Trillium Gold Mines Inc. is a British Columbia based company engaged in the business of acquisition, exploration and development of mineral properties located in the highly prospective Red Lake Mining District of Northern Ontario.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.