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TrueGold Mining Inc Announces $10 Million Financing


Wednesday, 8 May 2013 05:00pm EDT 

TrueGold Mining Inc announced that the Company will conduct a CAD10-million non-brokered private placement with Teck Resources Limited. Teck plans to subscribe for 30,303,030 common shares of True Gold at a price per Share of $0.33. Teck holds 1,750,000 Shares. Upon closing of the Placement, Teck will become the Company's shareholder with 32,053,030 Shares, representing approximately 15% of shares outstanding. Proceeds of the Placement will be used to accelerate exploration at True Gold's Karma Gold Project ("Karma Project") and the Liguidi Project (Liguidi) in Burkina Faso, West Africa, and for general working capital purposes. 

Company Quote

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17 Dec 2014