Troubadour Resources Inc. announced a non-brokered private placement of up to 7,558,000 common shares at a price of CAD 0.125 per share for gross proceeds of up to CAD 944,750 and up to 20,442,000 units at a price of CAD 0.125 per unit for gross proceeds of up to approximately CAD 2,555,250, for total gross proceeds of CAD 3,500,000 on June 20, 2024. Each unit will be composed of one share and one-half of one non-transferable share purchase warrant. Each warrant will entitle the holder to purchase one share at a price of CAD 0.175 for a period of 24 months from the date of issuance. All securities issued in connection with the unit offering will be subject to a statutory hold period of four months and one day following the date of issuance in accordance with applicable Canadian securities laws. Closing of the Offering may take place in one or more tranches as determined by the company and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the conditional approval from the TSX Venture Exchange. The company may pay certain eligible finders a cash fee of up to 7% of the gross proceeds raised in respect of the Offering from subscribers introduced by such finders to the company. The company may also issue
to eligible finders such number of finder warrants equal to 7% of the number of shares or units sold under the Offering to subscribers introduced by such finders to the company. The finder warrants, to the extent they are issued, will entitle the holder thereof to acquire one share at a price of CAD 0.175 per share for a period of 24 months from the date of issuance.