Troy Energy Corp. Announces Extension of $1M Equity Financing
Vancouver, British Columbia (FSCwire) - Troy Energy Corp. (the "Corporation" or "Troy") is pleased to report that its previously announced private placement equity financing for gross proceeds of up to $1,000,000 is ongoing. The financing consists of the offering of up to $400,000 of units (each, a "Unit") at a price of $0.10 per Unit and up to $600,000 of flow-through shares at a price of $0.15 per flow-through share. Each Unit will be comprised of one common share and one-half of one common share purchase warrant, with each whole warrant entitling the holder thereof to acquire one common share at a price of $0.25 for a period of two (2) years from the date of issuance. The proceeds from this private placement will be used for exploration work on the Corporation's 3,231 hectare Yellowknife Gold Belt mineral property centered 75 kilometres north of Yellowknife and for general working capital purposes.
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. (TSX Venture:TEG.H)
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