Trailbreaker Resources Closes Financing

By Globe Newswire10 days ago

VANCOUVER, British Columbia, May 04, 2021 (GLOBE NEWSWIRE) -- Trailbreaker Resources Ltd. (TBK.V) (Trailbreaker or the Company) is pleased to announce that, subject to regulatory approval, it has closed their private placement financing consisting of Hard Dollar Units and Flow-Through Units, for total gross proceeds of $1,048,610, an increase of $48,610 more than originally anticipated. Both offerings received support from strategic accredited investors.

The Company has closed on 800,000 non-flow-through Units for gross proceeds of $200,000 (the Units), each $0.25 Unit priced consisting of 1 common share of the Company and 1 common share purchase warrant (the Unit Warrants), each Unit Warrant being exercisable for an additional common share of the Company at $0.39 for 24 months from closing, subject to the right of the Company to accelerate the exercise period should, after the expiration of the 4 month hold, shares of the Company trade close at or above $0.59 for 10 consecutive trading days. Proceeds of this portion of the financing will be used for general corporate purposes, that may include corporate development and property acquisition.


The Company has also closed on 2,424,600 flow-through units for gross proceeds of $848,610 (the FT Units), each $0.35 FT Unit consisting of 1 flow-through share and 1 common share purchase warrant (the FT Unit Warrants), each full FT Unit Warrant being exercisable at $0.49 for a common share of the Company for 24 months. The flow-through shares will entitle the holder to receive tax benefits applicable to flow-through shares in accordance with the provisions of the Income Tax Act (Canada). Proceeds of the financing will be used to advance Trailbreaker's newly assembled Atsutla Gold Project in the province of British Columbia.

All securities issued pursuant to this financing are subject to a 4-month hold period.

On receipt of regulatory approval and in accordance with the policies of the TSX Venture Exchange, cash finders' fees totaling $52,116.90 will be paid.

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