Trojan Gold Inc announced a private placement of 10,000,000 units at a price CAD 0.05 per unit for gross proceeds CAD 500,000 and 5,000,000 flow-through units at a price CAD 0.10 per unit for gross proceeds CAD 500,000, bringing aggregate gross proceeds of a minimum of CAD 350,000 and a maximum of CAD 1,000,000 on May 17, 2024. Each Unit will consist of one common share and one-half of one common share purchase warrant. Each Unit Warrant will entitle the holder thereof to purchase one Common Share in the capital of the Company for a price of CAD 0.08 for a period of 24 months from the date of the closing, subject to acceleration of the expiry date upon the occurrence of certain events.

Each FT Unit will consist of one Common Share that will qualify as a "flow-through share" for the purposes of the Income Tax Act (Canada) and one-half of one common share purchase warrant. Each FT Warrant will the holder thereof to purchase one Common Share in the capital of the Company for a price of CAD 0.12 for a period of 24 months from the date of the closing. The securities issued pursuant to the Offering will not be subject to any statutory hold period in accordance with applicable Canadian securities laws.