Trillium Gold Mines (OTCMKTS:TGLDF) (TSXV:TGM) Stock Falls After Private Placement

Trillium Gold Mines (OTCMKTS:TGLDF) (TSXV: TGM) was down 5% after announcing an agreement with Red Cloud Securities Inc. to serve as the main bookrunner and agent in relation with private placement offering for total proceeds of C$5 million from the sale of combination units, flow-through units (FT) and charitable flow-through units (Charity (FT).

Market Stats

On Friday, TGLDF stock fell 5% to $0.4310 with more than 10k shares, compared to its average volume of 5.10k shares. The stock moved within a range of $0.4070 – 0.4310 after opening trading at $0.4070.

Trillium Gold Mines Announces Brokered Private Placement for up to C$5.0 Million

Each Unit, FT Unit, and Charity Ft units will be offered at C$0.53, C$0.6, and C$0.75 for every Unit, respectively. All these offered units will collectively be called “Offered Securities.”

Notably, every Unit comprises a common share and one-half of the ordinary share purchase warrant. On the other hand, a Charity FT Units and FT Unit comprises a common share of Trillium to be awarded within the Income Tax Act context as a “flow Though share” and on half of a warrant.

Warrant holders are entitled to acquire common shares of Trillium at C$0.8 any time before or on the date, which will be 24 months from the date of issuance. So, investors should watch TGLDF.

Traders Corner

TGLDF stock is trading below the 20-Day and 50-Day Moving averages of $0.4940 and $0.5690 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.6615.