TDG has received a firm commitment from a new institutional resource sector investor to acquire 11,600,000 Shares through the Offering and is expected to own approximately 9.9% of TDG's issued and outstanding common shares upon completion of the Offering.
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The Shares issued in connection with the Offering will be subject to a four-month and a day hold period. In addition, the Offering is subject to the approval of the
Use of Proceeds
The Company intends to use the proceeds of the Offering to fund the cost of the ongoing exploration programs at the Company's projects, with a particular focus on defining the potential of the high grade Mets gold system and possible extensions; continuing to evaluate the potential for a porphyry-style bulk-tonnage copper-gold system at Baker; defining a significantly larger Greater Shasta-Newberry ('GSN') gold-silver system and for general working capital purposes. Work currently underway includes detailed ground-based geophysics at Mets; continued re-logging and sampling of historic core and analysis of >225 detailed, system-wide geochemical sampling at Baker and re-logging and sampling of historic core from the GSN area outside of the defined mineral resource. Results from these programs will continue to be announced as they become available over the coming months.
Caution to US Investors
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in
About
TDG is a major mineral tenure holder in the historical Toodoggone Production Corridor of north-central
Contact:
Tel: +1.604.536.2711
Email: info@tdggold.com
This news release contains forward looking statements within the meaning of applicable securities laws. Forward-looking information is characterized by words such as 'anticipate', 'continue', 'expect', 'may', 'will', 'should', 'potential', variants of these words and other similar words, phrases, or statements that certain events or conditions 'may' or 'will' occur. In particular, this press release contains forward looking statements concerning the anticipated completion of the Offering, the potential for extensions to the Mets mineralization; the potential for bulk tonnage porphyry-style copper gold at Baker and defining a larger gold-silver system at Greater Shasta-Newberry. Although the Company believes that the expectations and assumptions on which the forward looking statements are based are reasonable, undue reliance should not be placed on the forward looking statements because the Company cannot give any assurance that they will prove correct. Since forward looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with the state of financial markets and metals prices, and receipt of regulatory approvals. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.
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