VANCOUVER, BC / ACCESSWIRE / May 20, 2020 / Troy Energy Corp. (the 'Corporation' or 'Troy') (NEX:TEG.H) announces that it intends to conduct a private placement financing of up to 5,000,000 common shares at a price of $0.03 per share for aggregate gross proceeds of up to $150,000 and up to 5,000,000 flow-through shares at a price of $0.04 per share for aggregate gross proceeds of up to $200,000 (total aggregate gross proceeds are therefore $350,000). This financing is subject to regulatory approval. In accordance with applicable securities laws, the common shares issued under this financing will be subject to four-month hold periods. The proceeds from this private placement will be applied towards the payment of licensing fees in respect of the Corporation's 3,231 hectare Yellowknife Gold Belt mineral property located 90 kilometres north of Yellowknife, for exploration work on the aforementioned mineral properties and for the payment of outstanding payables.
Forward Looking Statements
Except for statements of historical fact relating to the Corporation, certain information contained herein constitutes forward-looking statements. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Corporation undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
FOR FURTHER INFORMATION, PLEASE CONTACT:
President and Chief Executive Officer
Phone: (306) 229-5029
James Owen, Troy Energy Corp.
Chief Financial Officer
Phone: (250) 465-1806
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.
SOURCE: Troy Energy Corp.
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