Trans Canada Gold raises private placement target to C$2.5 million

Trans Canada Gold Corp. (TSXV: TTG) (OTCQB: TTGXF) has increased its non-brokered private placement from C$1.5 million to C$2.5 million, according to a company statement.

The offering consists of two components. The first is a flow-through unit offering of up to 7,894,737 units at C$0.19 per unit, targeting gross proceeds of up to C$1.5 million. The second is a non-flow-through offering of up to 5,882,353 units at C$0.17 per unit, targeting gross proceeds of up to C$1 million. Each unit in both offerings includes one common share and one-half of a share purchase warrant, with whole warrants exercisable at C$0.30 per share for two years from issuance.

The offering is subject to TSX Venture Exchange approval, and all securities issued will carry a four-month hold period under applicable securities laws. Closing is expected by mid-October 2026.

Proceeds from the flow-through portion will be directed toward eligible Canadian exploration expenditures at the company's Harrison Lake Gold Project in southwestern British Columbia, with those expenditures to be renounced for the 2026 tax year. The company intends to use the broader proceeds for Phase 2 exploration, including underground and surface drilling, with a budget of approximately C$1.7 million including a 15% contingency, plus general working capital.

The offering includes a 15% over-allotment option, allowing the company to sell an additional 882,353 non-flow-through units for up to C$150,000 in additional gross proceeds and 1,184,210 flow-through units for up to C$225,000.

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