Triumph Gold Corp. (TSX-V:TIG) (“Triumph” or the “Company”) is pleased to announce that pursuant to its stock option plan, the Company is issuing 800,000 options to officers and directors. The options are priced at $0.40 and are valid for a period of 5 years. The stock options will vest 25% immediately, 25% after six months, 25% after twelve months and 25% after eighteen months.
Triumph Gold Corp. (TSXV:TIG) (“Triumph” or the “Company”) is pleased to announce that it has completed a private placement financing of 14,641,101 units of Triumph at a price of $0.35 per unit for gross proceeds of approximately $5,124,385. Each unit consists of one common share of the Company and one half of one non-transferable common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant is exercisable into one additional common share at a price of $0.55 for a period of two years from the closing of the financing. The investment was made primarily by institutional investors. A private Hong Kong fund invested approximately $2.5 million and three existing shareholders (amongst others) participated in the offering, including Goldcorp Inc. (“Goldcorp”) which exercised its right to top up to a 19.9% ownership by participating in the financing.
Triumph Gold Corp., (TSX-V: TIG) (OTCMKTS: NFRGF) (“Triumph Gold” or the “Company“) is pleased to announce that a field crew has been dispatched to the Freegold Mountain property to execute a 1,900 metre diamond drill program targeting the newly discovered porphyry system in the Keirsten Zone (see PR # 17-13). Porphyry related mineralization was first discovered in the Keirsten Zone with drill hole KZ17-01 which tested the center of a 1.1 km diameter intense (up to 180 milliradians) buried chargeability high. The drill hole encountered rock that had been affected by an extremely vigorous porphyry related hydrothermal system from 193 metres to the end of the hole at 603.50 metres. Phase 1 drilling will test new targets within and along the margin of the chargeability high that were developed through application of a porphyry model to the interpretation of existing geological and geophysical data.