Trans Canada Gold Corp Finalizes Private Placement and Initiates Harrison Lake Project

Trans Canada Gold Corp. has successfully completed the second tranche of its non-brokered private placement. This final tranche involved the issuance of 100,000 non-flow through units at $0.15 per unit, adding to the total aggregate proceeds from both tranches, which amount to $869,711. Each unit comprises one common share and one purchase warrant, exercisable at $0.30 within three years.

Funds are allocated towards the acquisition and exploration of the Harrison Lake Gold Property in British Columbia. Year 1 expenditures include $600,000 for exploration activities, such as underground drilling and site preparations. Proceeds from flow-through units will fund eligible Canadian exploration expenditures.

The company's move occurs amidst a "related party transaction" under Multilateral Instrument 61-101, with insider participation accounting for $50,000 of the proceeds while staying within market capitalization limits.