Toronto, May 4, 2022 - TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) ("TRU" or the "Company") announces that further to its press release dated April 26, 2022, it has revised the terms of its proposed $2,500,000 non-brokered private placement (the "Offering").
The Company intends to raise gross proceeds of up to $2,000,000 from the issuance of flow-through units ("FT Units"). Each FT Unit will consist of one flow-through common share in the capital of the Company (the "FT Shares") and one flow-through common share purchase warrant (a "FT Warrant") exercisable for one non-flow-through common share in the capital of the Company (a "Share") for 24 months from the date of issuance. The FT Shares and FT Warrants will qualify as "flow-through shares" within the meaning of subsection 66(15) of the Income Tax Act (Canada). The Company has revised the terms of the FT Units and FT Warrants, such that the price of the FT Units will be amended to $0.14 per FT Unit, and the exercise price of the FT Warrants will be amended to $0.16 per Share.
The Company also intends to raise gross proceeds of up to $500,000 from the issuance of hard dollar units ("HD Units") at a price of $0.125 per unit. Each HD Unit will consist of one Share and one common share purchase warrant (a "HD Warrant") exercisable for one additional Share at a price of $0.16 for 24 months from the date of issuance.
The exercise price of the non-transferrable finder warrants that eligible finders will be entitled to receive has also been amended to $0.16 per Share.
All other terms of the FT Units and FT Warrants remain the same, and there are no changes to the terms of the HD Units and HD Warrants. The Offering is anticipated to close on or about May 17, 2022.
The securities issued pursuant to the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About TRU Precious Metals Corp.
TRU (TSXV: TRU) (OTCQB: TRUIF) (FSE: 706) is on a mission to build long-term shareholder value, through prudent natural resource property development and transactions. Currently TRU is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt and has an option with TSX-listed Altius Minerals to purchase 100% of the Golden Rose Project. Golden Rose is a regional-scale 236 km2 land package, including a newly discovered 20 km district-scale structure and an additional 45 km of strike length along the deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Marathon Gold's Valentine Gold Project and Matador Mining's Cape Ray Gold Project.
TRU is a portfolio company of Resurgent Capital Corp. ("Resurgent"), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent's website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.
For further information about TRU, please contact:
Co-Founder & CEO
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
To connect with TRU via social media, below are links:
TRU would like to thank the Government of Newfoundland and Labrador for its past financial support through the Junior Exploration Assistance Program.
Cautionary Statements Regarding Forward-Looking Information
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain forward-looking statements, including those relating to the Offering. These statements are based on numerous assumptions regarding the Offering and the Company's plans that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: risks related to the ability of the Company to satisfy the conditions of the Offering and to close the Offering; risks inherent in mineral exploration activities; mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's properties; the risk that the Company will not be able to raise sufficient funds to carry out its business plans; volatility in financial markets, economic conditions, and precious metals prices; regulatory approval processes; and those other risks described in the Company's continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.
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