Troilus Closes C$15 Million Bought Deal Public Offering of Units and Flow-Through Shares

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TORONTO, Nov. 20, 2023 (GLOBE NEWSWIRE) — Troilus Gold Corp. (TSX:TLG; OTCQX:CHXMF; FSE: CM5R) (“Troilus” or the “Company”) announces that it has closed today its previously announced bought deal financing (the “Offering”). Pursuant to the Offering, Troilus issued (i) 28,580,000 units (the “Units”) of Troilus at a price of $0.35 per Unit, for gross proceeds of C$10,003,000, (ii) 7,150,000 common shares in the capital of the Company issued as “flow-through shares” (the “Traditional FT Shares”) within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”) at a price of $0.42 per Traditional FT Share for gross proceeds of C$3,003,000, and (iii) 4,550,000 common shares in the capital of the Company issued as “flow-through shares” (the “Québec FT Shares”) within the meaning of subsection 66(15) of the Tax Act and section 359.1 of the Taxation Act (Québec) (the “Québec Tax Act”) at a price of $0.44 per Québec FT Share for gross proceeds of C$2,002,000, for aggregate combined gross proceeds of C$15,008,000.

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