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Triumph Gold Raises $5.4 Million Via Non-Brokered Private Placement

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Triumph Gold (TIG.V) closed its non-brokered private placement raising proceeds of $5.4 million, it said on Friday.

The offering consisted of the issuance of 10.8-million units at $0.50 apiece. Each unit consists of one common share and one common share purchase warrant with each warrant entitling the holder to buy a share for $0.55 for a three-year period from the closing date.

Proceeds will be used for general working capital needs.

A director of the company participated in the offering by acquiring an aggregate of 500,000 units for $250,000, as such, this participation constitutes a "related party transaction".

Shares of the company closed up 5.4% to $0.59 on Thursday on the TSX Venture Exchange.

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