TRU NEWS
All disclosure filings, including news releases and financial documents can be found on the TRU Precious Metals SEDAR page.
TRU Precious Metals appoints Barry Greene, P.Geo. as Vice President, Property Development
Fredericton, New Brunswick – December 18, 2020 – TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (“TRU” or the “Company”) is pleased to announce that Barry Greene, P.Geo., who is currently the Company’s Exploration Advisor, has been appointed as Vice President, Property Development of the Company.
Fredericton, New Brunswick – December 18, 2020 – TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) (“TRU” or the “Company”) is pleased to announce that Barry Greene, P.Geo., who is currently the Company’s Exploration Advisor, has been appointed as Vice President, Property Development of the Company. Mr. Greene will be instrumental in identifying potential property transactions and corporate M&A prospects, alongside overseeing exploration plans to enhance the value of the Company’s investment property portfolio in the Central Newfoundland Gold Belt. He will also remain a member of the Company’s Technical Committee.
A geoscientist with over 30 years of experience, Mr. Greene is based in Grand Falls-Windsor, Newfoundland, only 15 kilometers’ drive from TRU’s Twilite Gold Project. Mr. Greene has worked across Canada, in the United States and internationally for multi-national geological and engineering consulting companies like Amec Foster Wheeler, Wood Plc., BP Resources Canada, and Rio Algom Exploration Inc. He also previously served for 16 years as Exploration Manager and then Vice-President of Exploration for publicly-traded Celtic Minerals Ltd.
“We are delighted to welcome Barry as a key addition to our leadership team at TRU. Barry’s expansive technical background, connections in the Newfoundland mining industry, executive-level capital markets experience, and geographical proximity to 3 of our 4 properties are a rare package. He will be an ideal fit in a full-time role at TRU, and I am confident that in 2021 and beyond he will help us build shareholder value through a savvy combination of deals, development, and drilling,” stated Joel Freudman, Co-Founder and CEO of TRU.
Mr. Greene added: “I have been impressed with the TRU team’s performance, integrity, and culture since first getting involved in an advisory capacity. I look forward to helping the Company grow and monetize its various properties in the Central Newfoundland Gold Belt.”
Mr. Greene will also be joining TRU’s board of directors (the “Board”) in connection with his officer appointment. To facilitate Mr. Greene’s directorship without increasing the size of the Board, and in connection with the Company’s increased exposure to the mineral exploration industry, Marisa Muchnik has volunteered to depart from the Board.
Mr. Freudman added, “Marisa has provided top-notch advice and support relating to TRU’s non-mining holdings, while also bolstering the Company’s commitment to independent corporate governance. We are very grateful for her service to TRU, and wish her the best with her future endeavours.”
Finally, the Company announces that its CEO has issued a year-end letter to shareholders outlining the Company’s recent milestones and 2021 plans. A copy of the letter is available to all interested readers on the Company’s website at https://www.trupreciousmetals.com/s/TRU-Letter-to-Shareholders-December-2020.pdf.
About TRU Precious Metals Corp.
TRU seeks unique value-creation opportunities, and has assembled a portfolio of gold exploration properties in the Central Newfoundland Gold Belt. The Company’s common shares trade on the TSX Venture Exchange under the symbol “TRU”, and on the OTCQB Venture Market under the symbol “TRUIF”.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization Canadian companies.
For further information, please contact:
Joel Freudman
Co-Founder, President & CEO
TRU Precious Metals Corp.
Phone: (647) 880-6414
Website: www.trupreciousmetals.com
Julie Hajduk
President and CEO
Purple Crown Communications Corp.
Phone: (604) 609-6169
Email: julie@purplecrown.ca
Website: https://purplecrown.ca/
To connect with TRU Precious Metals Corp. via social media, below are links:
Facebook
https://www.facebook.com/TRU-Precious-Metals-Corp-100919195193616
Twitter
https://twitter.com/corp_tru
Linkedin
https://www.linkedin.com/company/tru-precious-metals-corp
YouTube
https://www.youtube.com/channel/UCHghHMDQaYgS1rDHiZIeLUg/
Cautionary Statements Regarding Forward-Looking Information
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Information in this press release relating to New Found Gold, the Queensway Project and Fosterville Gold District are from sources believed to be reliable, but that have not been independently verified by TRU. The technical information herein relating to the Rolling Pond Property has been supplied by the Optionor and has not been independently verified by TRU.
This press release contains certain forward-looking statements, including those relating to acquiring, exploring, and monetizing the Rolling Pond Property and the Company’s other mineral exploration investments. These statements are based on numerous assumptions regarding the Rolling Pond Property and the Option Agreement that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Rolling Pond Property; the exploration or monetization potential of the Rolling Pond Property and the nature and style of mineralization at the Rolling Pond Property; challenges in identifying, structuring, and executing additional investments and acquisitions, on favourable terms or at all; risks inherent in mineral exploration activities and investments in the mineral exploration sector; volatility in financial markets, economic conditions, and precious metals prices; challenges in attracting and retaining qualified personnel; and those other risks described in the Company’s continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.
TRU Precious Metals completes purchase of Stony Lake Property in Central Newfoundland gold belt
Fredericton, New Brunswick – December 16, 2020 – TRU Precious Metals Corp. (TSXV: TRU OTCQB:TRUIF) (“TRU” or the “Company”) is pleased to announce that, further to its press release dated November 23, 2020, it has completed the indirect purchase of a mineral license for the Stony Lake exploration property in Central Newfoundland (the “Stony Lake Property”), along with all related permits and technical data (collectively, the “Purchased Assets”).
Fredericton, New Brunswick--(Newsfile Corp. - December 16, 2020) – TRU Precious Metals Corp. (TSXV: TRU OTCQB:TRUIF) (“TRU” or the “Company”) is pleased to announce that, further to its press release dated November 23, 2020, it has completed the indirect purchase of a mineral license for the Stony Lake exploration property in Central Newfoundland (the “Stony Lake Property”), along with all related permits and technical data (collectively, the “Purchased Assets”).
The Stony Lake Property is located approximately 5-10 kilometres (km) south of the Company’s flagship Twilite Gold Project and consists of 107 claims covering 2,675 hectares.
TRU Co-Founder and CEO Joel Freudman commented: “With the Stony Lake Property now secured, TRU has established a district-scale presence in the Central Newfoundland Gold Belt. With our other properties at Twilite Gold, Rolling Pond, and Gander West we consider this portfolio ready for advancement and potential monetization. We are in the midst of planning and budgeting for corporate and exploration initiatives in 2021, and head towards the new year with significant momentum, a solid working capital base, and a sound capitalization structure, all of which will help TRU take advantage of opportunities to unlock shareholder value.”
Figure 1: TRU Newfoundland Gold Exploration Property Portfolio
As previously disclosed, the vendors of the Purchased Assets received an aggregate of 3,350,000 common shares in the capital of TRU at a deemed price of $0.30 per share as consideration for the Purchased Assets. All TRU shares issuable for the Stony Lake Property will be subject to a hold period expiring four months and one day from December 15, 2020.
The acquisition of the Purchased Assets remains subject to regulatory approval by the TSX Venture Exchange.
About TRU Precious Metals Corp.
TRU seeks unique value-creation opportunities and has assembled a portfolio of gold exploration properties in the Central Newfoundland Gold Belt. The Company’s common shares trade on the TSX Venture Exchange under the symbol “TRU”, and on the OTCQB Venture Market under the symbol “TRUIF”.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization Canadian companies.
For further information, please contact:
Joel Freudman
Co-Founder, President & CEO
TRU Precious Metals Corp.
Phone: (647) 880-6414
Website: www.trupreciousmetals.com
Julie Hajduk
President and CEO
Purple Crown Communications Corp.
Phone: (604) 609-6169
Email: julie@purplecrown.ca
Website: https://purplecrown.ca/
To connect with TRU Precious Metals Corp. via social media, below are links:
Facebook
https://www.facebook.com/TRU-Precious-Metals-Corp-100919195193616
Twitter
https://twitter.com/corp_tru
Linkedin
https://www.linkedin.com/company/tru-precious-metals-corp
YouTube
https://www.youtube.com/channel/UCHghHMDQaYgS1rDHiZIeLUg/
Cautionary Statements Regarding Forward-Looking Information
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Information in this press release relating to New Found Gold, the Queensway Project and Fosterville Gold District are from sources believed to be reliable, but that have not been independently verified by TRU. The technical information herein relating to the Rolling Pond Property has been supplied by the Optionor and has not been independently verified by TRU.
This press release contains certain forward-looking statements, including those relating to acquiring, exploring, and monetizing the Rolling Pond Property and the Company’s other mineral exploration investments. These statements are based on numerous assumptions regarding the Rolling Pond Property and the Option Agreement that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Rolling Pond Property; the exploration or monetization potential of the Rolling Pond Property and the nature and style of mineralization at the Rolling Pond Property; challenges in identifying, structuring, and executing additional investments and acquisitions, on favourable terms or at all; risks inherent in mineral exploration activities and investments in the mineral exploration sector; volatility in financial markets, economic conditions, and precious metals prices; challenges in attracting and retaining qualified personnel; and those other risks described in the Company’s continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.
TRU Precious Metals identifies drill target at Twilite Gold Project
Fredericton, New Brunswick – December 8, 2020 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF) (“TRU” or the “Company”) is pleased to announce that a promising geophysical target has been identified as an expected starting point for drilling activity in early 2021 at TRU’s 100%-owned flagship Twilite Gold Project (“Twilite Gold”) in the Central Newfoundland Gold Belt.
Fredericton, New Brunswick – December 8, 2020 – TRU Precious Metals Corp. (TSXV:TRU; OTCQB:TRUIF) (“TRU” or the “Company”) is pleased to announce that a promising geophysical target has been identified as an expected starting point for drilling activity in early 2021 at TRU’s 100%-owned flagship Twilite Gold Project (“Twilite Gold”) in the Central Newfoundland Gold Belt. The target was identified by certain of TRU’s advisors following completion of a preliminary phase 1 geophysical survey.
Twilite Gold is strategically located on the mapped extension of the Cape Ray – Valentine Lake Shear Zone. Numerous advanced-stage gold exploration projects are currently underway along this district-scale shear zone, including Marathon Gold’s multi-million ounce deposit at Valentine Lake, and Matador Mining’s Cape Ray deposit. Twilite Gold is also located only 15 kilometres south of Grand Falls-Windsor, a town of approximately 15,000 which is the service and supply centre for central Newfoundland. Twilite Gold is easily accessible with an all-weather gravel road leading directly to the prospect.
TRU Co-Founder and CEO Joel Freudman commented: “We are excited for work to commence at Twilite Gold. In early November we acquired this drill-ready property, and based on historical data we have funded some ground-level initiatives at Twilite Gold before the winter months. Our Exploration Advisor Barry Greene, who is very familiar with the property, is spearheading our disciplined incremental expenditure. Identifying this target will position us for a head start on our 2021 plans to unearth value at Twilite Gold. At the same time, our Technical Committee is currently evaluating an overarching exploration plan and budget for our Newfoundland Gold Exploration properties for 2021.”
In mid-November, TRU engaged RDF Consulting Ltd. to undertake a limited-scope, high-resolution magnetic survey covering approximately 24 line-kilometres around known historical gold occurrences at Twilite Gold. The detailed ground magnetics survey covered the known gold prospects, including the Discovery, Spring Pit, 320 Vein and Paddy’s Pit prospects. Modeling of the geophysical data, incorporating historical diamond drilling data, reveals that the structurally controlled gold mineralization near the Spring Pit correlates directly with prominent magnetic low that continues to depth (Figure 1). The modeling also indicates that the magnetic low associated with the mineralized structure continues in a northwesterly direction for at least 600 m to the limit of the current magnetic survey (Figure 2).
The mineralized structure was intersected by three shallow diamond drill holes in a 1999 drilling program by Fort Knox Gold Resources, and all such holes contained gold mineralization. Notably, drill hole TH-99-10 intersected 8.41m @ 3.28 g/t gold at the top of the structure. The deepest hole to date on this structure intersected 13.3m @ 1.02 g/t gold.
TRU Exploration Advisor Barry Greene commented: “Magnetic lows are often associated with areas of quartz veining, brecciation and alteration, all of which was intersected in historic drilling on this structure. It is encouraging that the modeling predicts a depth continuity of the gold mineralized structure, and an intriguing domal shaped magnetic low which flanks the mineralized structure, which has not previously been drill tested. These features will be considered priority phase 1 drill targets. Also of interest is how the magnetic modeling suggests that the mineralized structure has continuity in its lateral extent, opening up an expanded area for drill targeting. We are eagerly awaiting the opportunity to see drilling on this property.”
Figure 1: Twilite Gold Cross-Section
Figure 2: Twilite Gold Magnetic Inversion
TRU has not verified the historical drill intervals contained in this press release and is not relying on them as current mineral resources or mineral reserves. Note that drill hole results are select samples and are not necessarily representative of overall mineralization on Twilite Gold. Readers are cautioned that these potential grades are conceptual in nature; there has been insufficient exploration by or on behalf of the Company or its qualified person at Twilite Gold to define a mineral resource or mineral reserve, and it is uncertain whether further exploration will result in these targets being delineated as a mineral resource or mineral reserve.
Qualified Person
Barry Greene, P.Geo. is a qualified person as defined by the Canadian Securities Administrators’ National Instrument 43-101, and has reviewed and approved the contents and technical disclosures in this press release. Mr. Greene is the Exploration Advisor to the Company and owns securities of the Company.
About TRU Precious Metals Corp.
TRU seeks unique value-creation opportunities and has recently assembled a portfolio of gold exploration properties in the Central Newfoundland Gold Belt. The Company’s common shares trade on the TSX Venture Exchange under the symbol “TRU”, and on the OTCQB Venture Market under the symbol “TRUIF”.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization Canadian companies.
For further information, please contact:
Joel Freudman
Co-Founder, President & CEO
TRU Precious Metals Corp.
Phone: (647) 880-6414
Website: www.trupreciousmetals.com
Julie Hajduk
President and CEO
Purple Crown Communications Corp.
Phone: (604) 609-6169
Email: julie@purplecrown.ca
Website: https://purplecrown.ca/
Cautionary Statements Regarding Forward-Looking Information
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Information in this press release relating to New Found Gold, the Queensway Project and Fosterville Gold District are from sources believed to be reliable, but that have not been independently verified by TRU. The technical information herein relating to the Rolling Pond Property has been supplied by the Optionor and has not been independently verified by TRU.
This press release contains certain forward-looking statements, including those relating to acquiring, exploring, and monetizing the Rolling Pond Property and the Company’s other mineral exploration investments. These statements are based on numerous assumptions regarding the Rolling Pond Property and the Option Agreement that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Rolling Pond Property; the exploration or monetization potential of the Rolling Pond Property and the nature and style of mineralization at the Rolling Pond Property; challenges in identifying, structuring, and executing additional investments and acquisitions, on favourable terms or at all; risks inherent in mineral exploration activities and investments in the mineral exploration sector; volatility in financial markets, economic conditions, and precious metals prices; challenges in attracting and retaining qualified personnel; and those other risks described in the Company’s continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.
TRU Precious Metals Commences Trading on the OTCQB Venture Market Under Symbol TRUIF
Fredericton, New Brunswick--(Newsfile Corp. - November 24, 2020) - TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) ("TRU" or the "Company") is pleased to announce that effective November 23, 2020, its common shares commenced trading on the OTCQB Venture Market (the "OTCQB Venture") in the United States under the stock symbol "TRUIF".
Fredericton, New Brunswick-(November 24, 2020) - TRU Precious Metals Corp. (TSXV: TRU) (OTCQB: TRUIF) ("TRU" or the "Company") is pleased to announce that effective November 23, 2020, its common shares commenced trading on the OTCQB Venture Market (the "OTCQB Venture") in the United States under the stock symbol "TRUIF".
The OTCQB Venture is a U.S. trading platform that is operated by the OTC Markets Group in New York, and is the premiere marketplace for early-stage and developing U.S. and international companies. Participating companies must be current in their reporting and undergo an annual verification and management certification process. The OTCQB Venture quality standards provide a strong baseline of transparency, as well as the technology and regulation to improve the information and trading experience for investors. Investors can find real-time quote and market information for TRU at https://www.otcmarkets.com/stock/TRUIF/overview.
TRU Co-Founder and CEO, Joel Freudman, commented: "As our Company continues to grow, so too does our shareholder base. Listing on the OTCQB Venture is part of a long-term strategy to introduce the Company to a broader audience. Trading on the OTCQB Venture will assist in increasing TRU's visibility in the U.S., offering U.S. prospective investors exposure to our rapidly-expanding presence in the Central Newfoundland Gold Belt and our diversified asset base."
TRU's common shares will also continue to trade on the TSX Venture Exchange under the symbol "TRU".
The Company also announces that, subject to regulatory approval by TSX Venture Exchange, it has granted 500,000 incentive stock options ("Options") to a consultant in accordance with the Company's stock option plan. These Options have an exercise price of $0.295 each and a three-year term, and vest immediately.
About OTC Markets Group Inc.
OTC Markets Group Inc. operates the OTCQX Best Market, the OTCQB Venture Market, and the Pink Open Market for 10,000 U.S. and global securities. Through OTC Link ATS and OTC Link ECN, the OTC Markets Group connects a diverse network of broker-dealers that provide liquidity and execution services. OTC Markets Group enables investors to easily trade through the broker of their choice and empowers companies to improve the quality of information available for investors.
About TRU Precious Metals Corp.
TRU seeks unique value-creation opportunities, and is currently assembling a portfolio of gold exploration properties in the Central Newfoundland Gold Belt. The Company’s common shares trade on the TSX Venture Exchange under the symbol “TRU”.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization Canadian companies.
For further information, please contact:
Joel Freudman
Co-Founder, President & CEO
TRU Precious Metals Corp.
Phone: (647) 880-6414
Website: www.trupreciousmetals.com
Julie Hajduk
President and CEO
Purple Crown Communications Corp.
Phone: (604) 609-6169
Email: julie@purplecrown.ca
Website: https://purplecrown.ca/
Cautionary Statements Regarding Forward-Looking Information
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Information in this press release relating to New Found Gold, the Queensway Project and Fosterville Gold District are from sources believed to be reliable, but that have not been independently verified by TRU. The technical information herein relating to the Rolling Pond Property has been supplied by the Optionor and has not been independently verified by TRU.
This press release contains certain forward-looking statements, including those relating to acquiring, exploring, and monetizing the Rolling Pond Property and the Company’s other mineral exploration investments. These statements are based on numerous assumptions regarding the Rolling Pond Property and the Option Agreement that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Rolling Pond Property; the exploration or monetization potential of the Rolling Pond Property and the nature and style of mineralization at the Rolling Pond Property; challenges in identifying, structuring, and executing additional investments and acquisitions, on favourable terms or at all; risks inherent in mineral exploration activities and investments in the mineral exploration sector; volatility in financial markets, economic conditions, and precious metals prices; challenges in attracting and retaining qualified personnel; and those other risks described in the Company’s continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.
TRU Precious Metals to acquire Stony Lake property in Central Newfoundland gold belt
Fredericton, New Brunswick – November 23, 2020 – TRU Precious Metals Corp. (TSXV: TRU) (“TRU” or the “Company”) is pleased to announce that its wholly-owned subsidiary has entered into an asset purchase agreement dated November 20, 2020 (the “Purchase Agreement”) with several arm’s length vendors (the “Vendors”), in respect of a mineral license for the Stony Lake exploration property in Central Newfoundland (the “Stony Lake Property”), along with all related permits and technical data (collectively, the “Purchased Assets”).
Fredericton, New Brunswick – November 23, 2020 – TRU Precious Metals Corp. (TSXV: TRU) (“TRU” or the “Company”) is pleased to announce that its wholly-owned subsidiary has entered into an asset purchase agreement dated November 20, 2020 (the “Purchase Agreement”) with several arm’s length vendors (the “Vendors”), in respect of a mineral license for the Stony Lake exploration property in Central Newfoundland (the “Stony Lake Property”), along with all related permits and technical data (collectively, the “Purchased Assets”).
The Stony Lake Property is located approximately 5-10 kilometres (km) south of the Company’s flagship Twilite Gold Project and consists of 107 claims covering 2,675 hectares.
TRU Co-Founder and CEO Joel Freudman commented: “We view the Stony Lake Property as the final mineral property investment in what is only the first phase of our value creation plan for our Newfoundland Gold Exploration portfolio. This acquisition further bolsters TRU’s district-scale presence in the Central Newfoundland Gold Belt, along with our other properties at Gander West, Twilite Gold, and Rolling Pond.”
Geological Description
Historical lake sediment surveys at the Stony Lake Property show anomalous gold, arsenic, and antimony, and a radiometric survey shows potassium anomalies suggestive of areas of alteration. The geological environment is consistent with an epithermal model for gold mineralization in areas of Silurian, subaerial volcanism and extensional tectonics, including extensive units described as pyritic rhyolite. Two large lobes of sericitized/silicified altered rhyolite measuring approximately 4km x 3km and 3.5km x 3.6km were mapped in the late 1980’s. Work by Battle Mountain Canada Inc. (“Battle Mountain”) in 1989 and 1990 identified a new mineralized zone called the “Cliff Showing”. It consists of strong sericitization and pervasive silicification associated with disseminated pyrite and arsenopyrite mineralization with weak gold values (Source: Battle Mountain (Canada) Inc. Geology and Geochemistry of the Rattling Brook Property in Newfoundland Department of Natural Resources: Geofiles 002D/0228).
The Stony Lake Property shares an overall tectonic and temporal similarity with the Pagingo / Drummond Basin deposit formerly operated by Battle Mountain in Queensland, Australia. The Drummond Basin hosts a number of significant, high-grade epithermal gold deposits, with the most notable being the approximately 3 million ounce Pagingo field (Source: Andromeda Metals website). This represents a sizable, comparable exploration model.
The Stony Lake Property has not been recently explored. However, a 1989 till sampling program by Battle Mountain carried out over an area with the highest disseminated pyrite/arsenopyrite enrichment produced 7 samples bearing visible gold, out of a total of 37, which results were not duplicated in a 1990 program (Source: Battle Mountain (Canada) Inc. Geology and Geochemistry of the Rattling Brook Property in Newfoundland Department of Natural Resources: Geofiles 002D/0228). Battle Mountain did not drill test the prospective areas but concluded that arsenic +/- gold +/- antimony bedrock anomalous areas in the Cliff Showing and the area southeast of Miguel Hill, together with their associated surficial geochemical anomalies, may be indicative of an upper arsenic zone in an otherwise concealed epithermal system. Consistent with Battle Mountain, the target for the Stony Lake Property would be a buried epithermal system below the extensive pyritic/arsenopyritic lithocap exposed at the Cliff Showing and elsewhere on the Stony Lake Property.
Figure 1: Stony Lake Property Area Map
Terms of the Purchase Agreement
Pursuant to the Purchase Agreement, the Vendors will receive an aggregate of 3,350,000 common shares in the capital of TRU at a deemed price of $0.30 per share as consideration for the Purchased Assets. All TRU shares issuable under the Purchase Agreement will be subject to a hold period expiring four months and one day from the date on which such shares are issued.
The acquisition of the Purchased Assets remains subject to customary conditions. The transaction is expected to be completed as soon as is practicable based on governmental claims transfer processing times, and remains subject to regulatory approval by the TSX Venture Exchange
Mr. Freudman added: “With this initial buildout nearly complete, it is already time for TRU to keep pressing forward to generate returns from these holdings and other investments well into 2021. We will accomplish this through a combination of exploration work on our property assets led by strong third-party partners, as well as ongoing evaluation of corporate opportunities to enhance shareholder value at the property-level and for the Company overall. TRU is well-capitalized and well-positioned to continue its aggressive growth.”
Qualified Person and National Instrument 43-101 Disclosures
Barry Greene, P.Geo. is a qualified person as defined by the Canadian Securities Administrators’ National Instrument 43-101, and has reviewed and approved the contents and technical disclosures in this press release. Mr. Greene is the Exploration Advisor to the Company and owns securities of the Company, and is one of the Vendors of the Stony Lake Property.
About TRU Precious Metals Corp.
TRU seeks unique value-creation opportunities, and is currently assembling a portfolio of gold exploration properties in the Central Newfoundland Gold Belt. The Company’s common shares trade on the TSX Venture Exchange under the symbol “TRU”.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization Canadian companies.
For further information, please contact:
Joel Freudman
Co-Founder, President & CEO
TRU Precious Metals Corp.
Phone: (647) 880-6414
Website: www.trupreciousmetals.com
Julie Hajduk
President and CEO
Purple Crown Communications Corp.
Phone: (604) 609-6169
Email: julie@purplecrown.ca
Website: https://purplecrown.ca/
Cautionary Statements Regarding Forward-Looking Information
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Information in this press release relating to New Found Gold, the Queensway Project and Fosterville Gold District are from sources believed to be reliable, but that have not been independently verified by TRU. The technical information herein relating to the Rolling Pond Property has been supplied by the Optionor and has not been independently verified by TRU.
This press release contains certain forward-looking statements, including those relating to acquiring, exploring, and monetizing the Rolling Pond Property and the Company’s other mineral exploration investments. These statements are based on numerous assumptions regarding the Rolling Pond Property and the Option Agreement that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Rolling Pond Property; the exploration or monetization potential of the Rolling Pond Property and the nature and style of mineralization at the Rolling Pond Property; challenges in identifying, structuring, and executing additional investments and acquisitions, on favourable terms or at all; risks inherent in mineral exploration activities and investments in the mineral exploration sector; volatility in financial markets, economic conditions, and precious metals prices; challenges in attracting and retaining qualified personnel; and those other risks described in the Company’s continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.
TRU Precious Metals signs option agreement for Rolling Pond property bordering New Found Gold’s Queensway Project
Fredericton, New Brunswick – November 19, 2020 – TRU Precious Metals Corp. (TSXV: TRU) (“TRU” or the “Company”) is pleased to announce that its wholly-owned subsidiary has entered into an option agreement dated November 18, 2020 (the “Option Agreement”) with an arm’s length individual (the “Optionor”), in respect of 11 mineral licenses covering 224 contiguous claims located in central Newfoundland (the “Rolling Pond Property”) and bordering New Found Gold Corp.’s Queensway Project.
Fredericton, New Brunswick – November 19, 2020 – TRU Precious Metals Corp. (TSXV: TRU) (“TRU” or the “Company”) is pleased to announce that its wholly-owned subsidiary has entered into an option agreement dated November 18, 2020 (the “Option Agreement”) with an arm’s length individual (the “Optionor”), in respect of 11 mineral licenses covering 224 contiguous claims located in central Newfoundland (the “Rolling Pond Property”) and bordering New Found Gold Corp.’s Queensway Project.
TRU Co-Founder and CEO Joel Freudman commented: “As TRU continues to build out its mineral property portfolio, we are very excited to start investing in the Rolling Pond Property and become next-door neighbours to New Found Gold. The Option Agreement is a cost-effective, incremental approach to gain access to the prospective regional geology in the area, which is consistent with our goal to add properties of merit at justifiable prices. We are further encouraged by early findings that the nature and style of mineralization at the Rolling Pond Property appears similar to that at New Found Gold’s Queensway Project.”
New Found Gold recently reported drill results at the Queensway Project that included 44.5 grams per tonne (g/t) of gold (Au) over 6.85 metres (m), within an interval of 11.8 g/t Au over 29.15 m (source: New Found Gold press release dated November 16, 2020).
Mr. Freudman further commented “In connection with the Option Agreement, TRU will be partnering with our Technical Advisor Dean Fraser for the majority of the exploration work at the Rolling Pond Property. Dean has a wealth of experience and TRU will be drawing on his extensive geological expertise and knowledge of the property to run exploration efforts there. We believe that Rolling Pond is a top-tier exploration property in this district, and TRU being the financial partner stands to benefit from any exploration upside and discovery.”
Geological Description
The Rolling Pond Property is located in a highly prospective area along the western edge of the Mt. Peyton Intrusive Suite in Central Newfoundland, and shares its southeast border with New Found Gold’s Queensway Project. (See Figure 1 below.)
The Rolling Pond Property is host to a large well-preserved and highly underexplored hydrothermal quartz vein system measuring up to 50 to 75 m wide (true width) and containing anomalous gold grades. The system has been intersected by drilling in six historical drill holes to a depth of 160 m over a 270 m strike length. The inventory of historical drill holes have been maintained in good condition. The main zone is known to be over 1.7 kilometres (km) long and remains open along its strike length as defined by field mapping and ground geophysics. (See Figure 2 below.) The system is thought to be analogous to the Fosterville Gold District based on similar host rocks, abundant vugs in the quartz veins and the presence of local boulangerite. New targets discovered in 2018 along strike to the southeast of this structure have been identified and delineated by soil geochemistry and geophysics during 2018, but have yet to be trenched or drill-tested. Most of the Rolling Pond Property remains largely unexplored.
Figure 1: Rolling Pond Property Claims Map
Figure 2: IP Chargeability Imagery for Main Zone of Rolling Pond Property
Terms of the Option Agreement
| Share Issuance | Cash Payments | Exploration Funding Commitment | Deadline |
|---|---|---|---|
| 400,000 TRU Shares | $25,000 | Total of $500,000 on or before November 18, 2024, with a minimum of $100,000 on or before November 18, 2021. The Company has granted a right of first refusal in favour of the Optionor and associated companies in respect of services to be provided in connection with these exploration work commitments subject to certain conditions |
Upon signing the Option Agreement (completed) |
| 500,000 TRU Shares | $50,000 | On or before November 18, 2021 | |
| 600,000 TRU Shares | $50,000 | On or before November 18, 2022 | |
| 1,000,000 TRU Shares (maximum; subject to adjustment in certain circumstances) |
$100,000 | On or before November 18, 2023 | |
| 2,500,000 TRU Shares | $225,000 | $500,000 |
In order to acquire a 100% interest in the Rolling Pond Property, the Company must make the following cash payments, issue the following common shares in the capital of the Company (“TRU Shares”), and fund a total of $500,000 in exploration expenditures:
Upon exercise of the option, TRU will grant the Optionor a 2.0% net smelter returns royalty from any future mineral production at the Rolling Pond Property, of which 1.0% can be repurchased by the Company for $1,000,000 at any time.
TRU has optioned the Rolling Pond Property as a passive investment, and rather than operate the Rolling Pond Property directly, TRU intends to engage third party technical and exploration consultants to advance it and TRU’s other mineral property holdings so as to increase their monetization potential.
The transaction remains subject to regulatory approval by the TSX Venture Exchange.
Qualified Person and National Instrument 43-101 Disclosures
Dean Fraser, P.Geo. is a qualified person as defined by the Canadian Securities Administrators’ National Instrument 43-101, and has reviewed and approved the contents and technical disclosures in this press release. Mr. Fraser is a technical advisor to the Company and owns securities of the Company, and is the Optionor of the Rolling Pond Property.
About TRU Precious Metals Corp.
TRU seeks unique value-creation opportunities, and is currently assembling a portfolio of gold exploration properties in the Central Newfoundland Gold Belt. The Company’s common shares trade on the TSX Venture Exchange under the symbol “TRU”.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization Canadian companies.
For further information, please contact:
Joel Freudman
Co-Founder, President & CEO
TRU Precious Metals Corp.
Phone: (647) 880-6414
Website: www.trupreciousmetals.com
Julie Hajduk
President and CEO
Purple Crown Communications Corp.
Phone: (604) 609-6169
Email: julie@purplecrown.ca
Website: https://purplecrown.ca/
Cautionary Statements Regarding Forward-Looking Information
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Information in this press release relating to New Found Gold, the Queensway Project and Fosterville Gold District are from sources believed to be reliable, but that have not been independently verified by TRU. The technical information herein relating to the Rolling Pond Property has been supplied by the Optionor and has not been independently verified by TRU.
This press release contains certain forward-looking statements, including those relating to acquiring, exploring, and monetizing the Rolling Pond Property and the Company’s other mineral exploration investments. These statements are based on numerous assumptions regarding the Rolling Pond Property and the Option Agreement that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Rolling Pond Property; the exploration or monetization potential of the Rolling Pond Property and the nature and style of mineralization at the Rolling Pond Property; challenges in identifying, structuring, and executing additional investments and acquisitions, on favourable terms or at all; risks inherent in mineral exploration activities and investments in the mineral exploration sector; volatility in financial markets, economic conditions, and precious metals prices; challenges in attracting and retaining qualified personnel; and those other risks described in the Company’s continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.
TRU Precious Metals engages Purple Crown Communications for Investor Relations and Corporate Communications
Fredericton, New Brunswick – November 13, 2020 – TRU Precious Metals Corp. (TSXV: TRU) (“TRU” or the “Company”) is pleased to announce that, subject to regulatory approval by TSX Venture Exchange, it has engaged Purple Crown Communications Corp. (“Purple Crown”) for investor relations and corporate communications services.
Fredericton, New Brunswick – November 13, 2020 – TRU Precious Metals Corp. (TSXV: TRU) (“TRU” or the “Company”) is pleased to announce that, subject to regulatory approval by TSX Venture Exchange, it has engaged Purple Crown Communications Corp. (“Purple Crown”) for investor relations and corporate communications services.
Purple Crown will work with the Company’s management on a full-time basis, for an initial term of three months which can be extended, to advance TRU’s broad corporate communications goals and develop investor and public awareness. In consideration for these services, the Company will pay Purple Crown a monthly cash fee of $7,500. Purple Crown acts at arm’s length to TRU and does not currently have any interest, directly or indirectly, in the Company or its securities, although Purple Crown may acquire securities of TRU in the future.
Joel Freudman, TRU’s Co-Founder and CEO, said, “With our buildout of our Newfoundland Gold Exploration mineral property portfolio well underway, alongside our other investments and corporate developments, we’re pleased to begin working with Purple Crown to tell the TRU story to the market. We believe Purple Crown’s approach to investor relations will nicely align with ours.”
About Purple Crown Communications Corp.
Purple Crown is a full-service investor relations and communications firm. Led by President & CEO Julie Hajduk and with over 25 years of combined industry experience, Purple Crown has cultivated extensive relationships in the investment industry and developed the expertise to effectively communicate a client’s message to desired audiences. Purple Crown offers services that include tools critical to impactful and effective communication, including strategic planning, shareholder retention, public and media relations, and social media. Purple Crown’s mailing address is 300 – 1055 West Hastings Street, Vancouver, BC, V6E 2E9. For further information, please visit www.purplecrown.ca.
About TRU Precious Metals Corp.
TRU seeks unique value-creation opportunities, and is currently assembling a portfolio of gold exploration properties in the Central Newfoundland Gold Belt. The Company's common shares trade on the TSXV under the symbol "TRU".
TRU is a portfolio company of Resurgent Capital Corp. ("Resurgent"), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization Canadian companies.
For further information, please contact:
Joel Freudman
Co-Founder, President & CEO
TRU Precious Metals Corp.
Phone: (647) 880-6414
Website: www.trupreciousmetals.com
Cautionary Statements Regarding Forward-Looking Information
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Information and links in this press release relating to Sokoman Minerals Corp. are from sources believed to be reliable, but that have not been independently verified by TRU. These links are included in this press release as inactive textual references for reference purposes only and the information on or connected to these websites is not part of, or incorporated by reference into, this press release.
This press release contains certain forward-looking statements, including those relating to exploring and monetizing Twilite and the Company's other mineral exploration investments in Newfoundland, and to Mr. Greene's involvement with the Company. These statements are based on numerous assumptions regarding the Purchased Assets and Mr. Greene that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on Twilite; the exploration or monetization potential of the Purchased Assets and specifically Twilite; challenges in identifying, structuring, and executing additional investments and acquisitions, on favourable terms or at all; risks inherent in mineral exploration activities and investments in the mineral exploration sector; volatility in financial markets, economic conditions, and precious metals prices; challenges in attracting and retaining qualified personnel; and those other risks described in the Company's continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.
TRU Precious Metals Completes Purchase of Drill-Ready Twilite Gold Project
Fredericton, New Brunswick--(Newsfile Corp. - November 10, 2020) - TRU Precious Metals Corp. (TSXV: TRU) ("TRU" or the "Company") is pleased to announce that, further to its press releases dated October 14, 2020 and October 29, 2020, it has completed the indirect purchase of 65 mineral claims located in Central Newfoundland known as the Twilite Gold Project ("Twilite"), along with all related permits and technical data (collectively, the "Purchased Assets").
Fredericton, New Brunswick--(Newsfile Corp. - November 10, 2020) - TRU Precious Metals Corp. (TSXV: TRU) ("TRU" or the "Company") is pleased to announce that, further to its press releases dated October 14, 2020 and October 29, 2020, it has completed the indirect purchase of 65 mineral claims located in Central Newfoundland known as the Twilite Gold Project ("Twilite"), along with all related permits and technical data (collectively, the "Purchased Assets").
TRU Co-Founder and CEO Joel Freudman commented: "Twilite is now the flagship asset in our Newfoundland Gold Exploration portfolio. We continue to work diligently towards assembling a district-scale property package in the Central Newfoundland Gold Belt, for upside potential through exploration as well as appreciation on the back of nearby discoveries by New Found Gold and others in the region."
Mr. Freudman added, "We're also fortunate that Newfoundland-based geoscientist Barry Greene, who has been involved with Twilite for some time, is now available to our team as Exploration Advisor, as originally announced on October 21, 2020. Barry can help steer our approach to advancing Twilite and our other properties, and together we're already mapping out TRU's acquisition and exploration plans for this winter and into 2021."
The Twilite Gold Project
Twilite is considered to be associated with a low sulphidation gold system and shares many characteristics with Sokoman Minerals Corp.'s Moosehead Gold Project, which is located approximately 30 kilometres (km) northeast of Twilite.
TRU Newfoundland Gold Exploration Property Portfolio
Twilite has previously been explored but not thoroughly followed up, with the most recent notable program being carried out in 2003 by Altius Resources Inc. ("Altius"). Highlights of historical exploration including that of Fort Knox Gold Resources Inc. and Altius included:
Discovery Prospect - selected grab samples containing visible gold returned values up to 202 g/t Au in a zone of quartz veining and silicification; channel samples returned 3.48 g/t Au and 5.3 g/t Au in a contiguous 1.0 m sample across the widest portion of the vein.
Spring Pit Prospect - diamond drill hole TL-99-10 intersected 5.1 g/t Au over 5.8 m, from 14.2 m to 20 m depth.
TRU has not verified the historical assay results contained in this press release and is not relying on them as current mineral resources or mineral reserves. Note that grab and channel samples and drill hole results are select samples and are not necessarily representative of mineralization on Twilite. The technical information herein relating to Twilite has been supplied by the Vendor (as defined below) and has not been independently verified by TRU. Readers are cautioned that these potential grades are conceptual in nature; there has been insufficient exploration by the Company or its qualified person at Twilite to define a mineral resource or mineral reserve; and it is uncertain whether further exploration will result in these targets being delineated as a mineral resource or mineral reserve.
Terms of the Transaction
As previously disclosed, the vendor of the Purchased Assets (the "Vendor") received the following consideration for the Purchased Assets: (i) 1,435,000 common shares in the capital of TRU (each, a "TRU Share") at a deemed price of $0.25 per TRU Share; (ii) $100,000 cash; and (iii) a 1.0% net smelter returns royalty from any future mineral production at Twilite, of which 0.5% can be repurchased by the Company for $1,000,000. Twilite is currently subject to a 2.0% net smelter returns royalty owing to prior owners, of which 1.0% can be repurchased for $1,000,000.
Further, the Vendor may be issued up to an additional 1,000,000 TRU Shares if certain mineral deposit discovery milestones are achieved at Twilite. All TRU Shares issuable as consideration for the Purchased Assets are subject to a hold period expiring four months and one day from the date(s) on which such TRU Shares are issued.
The acquisition of the Purchased Assets remains subject to regulatory approval by the TSX Venture Exchange. The Purchased Assets are the second mineral exploration holding within the Company's broader investment portfolio. TRU has acquired the Purchased Assets as a passive investment, and does not intend to operate Twilite directly. However, TRU may engage third party technical and exploration consultants to advance its mineral property holdings so as to increase their monetization potential.
Qualified Person
Dean Fraser, P.Geo. is a qualified person as defined by the Canadian Securities Administrators' National Instrument 43-101, and has reviewed and approved the contents and technical disclosures in this press release. Mr. Fraser is the Technical Advisor to the Company and owns securities of the Company.
About TRU Precious Metals Corp.
TRU seeks unique value-creation opportunities, and is currently assembling a portfolio of gold exploration properties in the Central Newfoundland Gold Belt. The Company's common shares trade on the TSXV under the symbol "TRU".
TRU is a portfolio company of Resurgent Capital Corp. ("Resurgent"), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization Canadian companies.
For further information, please contact:
Joel Freudman
Co-Founder, President & CEO
TRU Precious Metals Corp.
Phone: (647) 880-6414
Website: www.trupreciousmetals.com
Cautionary Statements Regarding Forward-Looking Information
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Information and links in this press release relating to Sokoman Minerals Corp. are from sources believed to be reliable, but that have not been independently verified by TRU. These links are included in this press release as inactive textual references for reference purposes only and the information on or connected to these websites is not part of, or incorporated by reference into, this press release.
This press release contains certain forward-looking statements, including those relating to exploring and monetizing Twilite and the Company's other mineral exploration investments in Newfoundland, and to Mr. Greene's involvement with the Company. These statements are based on numerous assumptions regarding the Purchased Assets and Mr. Greene that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on Twilite; the exploration or monetization potential of the Purchased Assets and specifically Twilite; challenges in identifying, structuring, and executing additional investments and acquisitions, on favourable terms or at all; risks inherent in mineral exploration activities and investments in the mineral exploration sector; volatility in financial markets, economic conditions, and precious metals prices; challenges in attracting and retaining qualified personnel; and those other risks described in the Company's continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.
TRU Precious Metals Signs Definitive Agreement for Drill-Ready Twilite Gold Project
TRU Precious Metals Corp. (formerly Trius Investments Inc.) (TSXV: TRU) (“TRU” or the “Company”) is pleased to announce that, further to its press release dated October 14, 2020, its wholly-owned subsidiary has entered into a definitive agreement dated October 29, 2020 (the “Definitive Agreement”) with GBC Grand Exploration Inc. (the “Vendor”)
FREDERICTON, New Brunswick, Oct. 29, 2020 (GLOBE NEWSWIRE) -- TRU Precious Metals Corp. (formerly Trius Investments Inc.) (TSXV: TRU) (“TRU” or the “Company”) is pleased to announce that, further to its press release dated October 14, 2020, its wholly-owned subsidiary has entered into a definitive agreement dated October 29, 2020 (the “Definitive Agreement”) with GBC Grand Exploration Inc. (the “Vendor”).
Pursuant to the Definitive Agreement, the Company will indirectly purchase 65 mineral claims located in Central Newfoundland known as the Twilite Gold Project (“Twilite”), along with all related permits and technical data (collectively, the “Purchased Assets”). For further details on the Definitive Agreement, please see the Company’s October 14, 2020 press release, which sets out the terms of the proposed transaction as set forth in the binding letter of intent between TRU and the Vendor dated October 13, 2020, which terms are substantially reflected in the Definitive Agreement.
TRU Co-Founder and CEO Joel Freudman commented, “When we close this transaction, Twilite will become the most advanced asset in our Newfoundland Gold Exploration portfolio. Meanwhile, we’re already working with our recently-formed Technical Committee to plan and budget for third-party exploration work at Twilite over the winter, to enhance the value of this property.”
The acquisition of the Purchased Assets remains subject to customary conditions. The transaction will be completed as soon as is practicable based on governmental claims transfer processing times, and remains subject to regulatory approval by the TSX Venture Exchange.
About TRU Precious Metals Corp.
TRU seeks unique value-creation opportunities, and is currently assembling a portfolio of gold exploration properties in the Central Newfoundland Gold Belt. The Company’s common shares trade on the TSX Venture Exchange under the symbol “TRU”.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization Canadian companies.
For further information, please contact:
Joel Freudman
Co-Founder, President & CEO
TRU Precious Metals Corp.
Phone: (647) 880-6414
Website: www.trupreciousmetals.com
Cautionary Statements Regarding Forward-Looking Information
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain forward-looking statements, including those relating to acquiring, exploring, and monetizing Twilite and the Company’s other mineral exploration investments in Newfoundland. These statements are based on numerous assumptions regarding the Purchased Assets that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: the exploration or monetization potential of the Purchased Assets and specifically Twilite; challenges in identifying, structuring, and executing additional investments and acquisitions, on favourable terms or at all; risks inherent in mineral exploration activities and investments in the mineral exploration sector; volatility in financial markets, economic conditions, and precious metals prices; and those other risks described in the Company’s continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.
Tru Precious Metals Property Purchase Update
TRU Precious Metals Corp. (formerly Trius Investments Inc.) (TSXV: TRU) (“TRU” or the “Company”) announces that it has terminated its mineral property acquisition agreement relating to certain claims in Toogood Arm, Newfoundland, which was initially announced on September 24, 2020.
FREDERICTON, New Brunswick, Oct. 26, 2020 (GLOBE NEWSWIRE) -- TRU Precious Metals Corp. (formerly Trius Investments Inc.) (TSXV: TRU) (“TRU” or the “Company”) announces that it has terminated its mineral property acquisition agreement relating to certain claims in Toogood Arm, Newfoundland, which was initially announced on September 24, 2020. In connection, certain individuals are ceasing their roles as property advisors to the Company, as had been originally announced on October 1, 2020.
About TRU Precious Metals Corp.
TRU seeks unique value-creation opportunities, and is currently assembling a portfolio of gold exploration properties in the Central Newfoundland Gold Belt. The Company’s common shares trade on the TSXV under the symbol “TRU”.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization Canadian companies.
For further information, please contact:
Joel Freudman
Co-Founder, President & CEO
TRU Precious Metals Corp.
Phone: (647) 880-6414
Website: www.trupreciousmetals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
TRU Precious Metals Announces Changes to Board of Directors & Forms Technical Committee
TRU Precious Metals Corp. (formerly Trius Investments Inc.) (TSXV: TRU) (“TRU” or the “Company”) is pleased to announce that, subject to regulatory approval, today David Hladky, P.Geo. has been appointed to the Company’s board of directors (the “Board”).
FREDERICTON, New Brunswick, Oct. 22, 2020 (GLOBE NEWSWIRE) -- TRU Precious Metals Corp. (formerly Trius Investments Inc.) (TSXV: TRU) (“TRU” or the “Company”) is pleased to announce that, subject to regulatory approval, today David Hladky, P.Geo. has been appointed to the Company’s board of directors (the “Board”). Mr. Hladky expects to contribute his geological expertise with gold and silver projects as TRU determines how to generate value from its Newfoundland Gold Exploration portfolio (“NL Gold”).
Mr. Hladky is a registered Professional Geologist with over 22 years of hands-on international exploration experience. His positions have included Senior Geologist and Project Manager for projects in Mexico, Canada, Argentina and Peru, including Project Manager and Qualified Person on the Morelos Sur and El Barqueno Projects in Mexico, purchased by Agnico Eagle Mines. Recently he has been working as a consultant for projects in Nevada, Ontario, and Mexico. He currently also serves as a Director for Kismet Resources, a Capital Pool Company undergoing an amalgamation transaction with TDG Gold Corp.
In connection with his appointment, and also subject to regulatory approval, Mr. Hladky has been granted 150,000 incentive stock options (“Options”) in accordance with the Company’s stock option plan. These Options have a five-year term and an exercise price of $0.26 each, and vest immediately. The Options, and any TRU shares that may be issued upon their exercise, are subject to a hold period expiring February 23, 2021.
TRU has also formed a Technical Committee consisting of Technical Advisor Dean Fraser, P.Geo.; Exploration Advisor Barry Greene, P.Geo.; and Mr. Hladky, P.Geo. The Technical Committee will advise management on the geological merit of potential NL Gold property investments and acquisitions, as well as potential contractors and exploration work to enhance the value of NL Gold’s properties.
The Company also announces that Peter van Dijken has stepped down from the Board, in order to focus on his main business endeavours as President of both Green Boy Group, a Los Angeles- and Amsterdam-based supplier of plant-based, non-GMO and organic food ingredients for commercial customers, and Green Boy Products, which sells plant-based protein powders directly to consumers online. Green Boy Group is in the midst of launching Plant-Meat ProteinTM, a non-GMO plant-based protein powder for the plant-based meat industry.
Joel Freudman, TRU’s Co-Founder and CEO, said, “We’re happy that Dave has agreed to join our Board. Drawing on his extensive international experience with gold properties will help us assess and develop the best path forward for NL Gold. At the same time, as our corporate focus increasingly pivots towards investing in the precious metals sector, Peter has decided to devote his full-time efforts to continuing to expand his own business. We truly appreciate Peter’s time on the Board, and wish him great success in growing his Green Boy companies.”
Finally, the Company announces that after market close today it intends to file its financial statements and accompanying MD&A for the third quarter ended September 30, 2020, which captures the Company’s reactivation and the initial steps of assembling NL Gold. These materials will be made available under the Company’s profile at www.sedar.com. The Company is also building a corporate website, which is already accessible as a landing page at www.trupreciousmetals.com, to provide the public with easier access to comprehensive information about TRU.
About TRU Precious Metals Corp.
TRU seeks unique value-creation opportunities, and is currently assembling a portfolio of gold exploration properties in the Central Newfoundland Gold Belt. The Company’s common shares trade on the TSXV under the symbol “TRU”.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization Canadian companies.
For further information, please contact:
Joel Freudman
Co-Founder, President & CEO
TRU Precious Metals Corp.
Phone: (647) 880-6414
Website: www.trupreciousmetals.com
Cautionary Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Information in this press release relating to Messrs. Hladky and van Dijken have been provided by such individuals and has not been independently verified by TRU.
This press release contains certain forward-looking statements, including those relating to regulatory approval of Mr. Hladky and the Options granted to him, expected contributions to TRU of Mr. Hladky and of the Technical Committee, TRU’s strategy and plans for the acquisition, advancement, and monetization of NL Gold, and timing of filing of financial statements. These statements are based on numerous assumptions regarding the Company’s existing mineral property holdings and corporate strategy that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: regulatory approval processes; the exploration or monetization potential of NL Gold; challenges in identifying, structuring, and executing additional investments and acquisitions, on favourable terms or at all; risks inherent in mineral exploration activities and investments in the mineral exploration sector; challenges in attracting and retaining qualified personnel; volatility in financial markets, economic conditions, and precious metals prices; and those other risks described in the Company’s continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.
TRU Precious Metals Engages Barry Greene as Exploration Advisor
TRU Precious Metals Corp. (formerly Trius Investments Inc.) (TSXV: TRU) (“TRU” or the “Company”) is pleased to announce that Barry Greene, P.Geo. has agreed to serve as an Exploration Advisor to the Company, in connection with the Company’s proposed acquisition of the Twilite Gold Project in central Newfoundland (“Twilite Gold”) as announced on October 14, 2020.
FREDERICTON, New Brunswick, Oct. 21, 2020 (GLOBE NEWSWIRE) -- TRU Precious Metals Corp. (formerly Trius Investments Inc.) (TSXV: TRU) (“TRU” or the “Company”) is pleased to announce that Barry Greene, P.Geo. has agreed to serve as an Exploration Advisor to the Company, in connection with the Company’s proposed acquisition of the Twilite Gold Project in central Newfoundland (“Twilite Gold”) as announced on October 14, 2020. In this capacity, Mr. Greene will provide the Company with technical and geological advice on existing and potential mineral property holdings.
Mr. Greene is a geoscientist based in Newfoundland who has almost 30 years of experience and who is a shareholder of the corporate vendor of Twilite Gold. Mr. Greene has previously worked as a geological consultant, including with Amec Foster Wheeler and Wood Plc, and with numerous public companies, including approximately 16 years as Exploration Manager and then Vice-President of Exploration with Celtic Minerals Ltd.
Joel Freudman, Co-Founder and CEO of TRU, said, “We continue to attract well-known, respected, experienced teammates, and we’re glad to have Barry join us to help evaluate future property investments and potential follow-on exploration work. We now have a 4-person Newfoundland-based advisory team to help steer our activities on the ground.”
The Company also announces that it is building a corporate website to provide the public with easier access to comprehensive information about TRU. An initial version of the site is now live at www.trupreciousmetals.com, and will be expanded over the coming weeks.
TRU’s common shares trade on the TSX Venture Exchange under the symbol “TRU” and currently reflect the Company’s former corporate name of “Trius Investments Inc.” The shares will commence trading under the new corporate name of “TRU Precious Metals Corp.” on Friday October 23, 2020.
About TRU Precious Metals Corp.
TRU seeks unique value-creation opportunities, and is currently assembling a portfolio of gold exploration properties in the Central Newfoundland Gold Belt. The Company’s common shares trade on the TSXV under the symbol “TRU”.
TRU is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization Canadian companies.
For further information, please contact:
Joel Freudman
Co-Founder, President & CEO
TRU Precious Metals Corp.
Phone: (647) 880-6414
Website: www.trupreciousmetals.com
Cautionary Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Information in this press release relating to Barry Greene has been provided by Mr. Greene and has not been independently verified by TRU.
This press release contains certain forward-looking statements, including those relating to advancing and monetizing the Company property portfolio, the acquisition of other mineral exploration investments, and the Company’s corporate strategy and objectives. These statements are based on numerous assumptions that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: the exploration or monetization potential of the Company’s properties; challenges in sourcing, structuring, and executing additional investments and acquisitions, on favourable terms or at all; risks inherent in mineral exploration activities and investments in the mineral exploration sector; volatility in financial markets, economic conditions, and precious metals prices; difficulties in attracting and retaining qualified personnel; and those other risks described in the Company’s continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.
Trius Loan to Revive Superfoods to be Partially Repaid Early
Trius Investments Inc. (TSXV: TRU) (“Trius” or the “Company”) is pleased to announce that it has entered into an amendment (the “Amendment”) to the secured promissory note (the “Loan”) advanced to Revive Organics Inc. (“Revive Superfoods”) as previously announced on March 20, 2020.
FREDERICTON, New Brunswick, Oct. 19, 2020 (GLOBE NEWSWIRE) -- Trius Investments Inc. (TSXV: TRU) (“Trius” or the “Company”) is pleased to announce that it has entered into an amendment (the “Amendment”) to the secured promissory note (the “Loan”) advanced to Revive Organics Inc. (“Revive Superfoods”) as previously announced on March 20, 2020.
Pursuant to the Amendment, Revive Superfoods shall repay not less than $500,000 of the outstanding principal amount of the Loan to Trius early, in five equal monthly installments beginning in November 2020. In addition, certain contingent one-time payments contemplated in the Loan have been waived by Trius.
Trius President and CEO Joel Freudman commented: “We’ve been very pleased as a lender and partner to Revive Superfoods, and couldn’t have hoped for a better company to lend to – all interest payments have been made promptly, their management team keeps us in the loop with financial disclosure and general operational updates, and commercially their business has taken off this year. We’re glad to remain their primary lender while the rest of the Loan remains outstanding until March 20, 2021, and meantime, we’ll evaluate how best to redeploy these early repayments into other promising opportunities, including our burgeoning Newfoundland Gold Exploration portfolio segment.”
Revive Superfoods operates in the dynamic ready-to-eat meals industry, and has generated rapidly growing revenues while expanding its offerings across North America. Revive Superfoods offers a subscription service that delivers ready-to-blend smoothies and other healthy prepared meals right to consumers’ doors, with operations in Canada and the United States. Revive Superfoods’ website is accessible at https://revivesuperfoods.com.
Revive Superfoods CEO Yousuf Soliman added: “The Loan from Trius has really helped us scale up our business this year, and as we continue to drive strong sales and cashflow growth, we decided it would be prudent capital management for us to start repaying the Loan balance before maturity.”
About Trius Investments Inc.
Trius seeks unique value-creation opportunities, currently increasing its exposure to the precious metals sector by assembling a portfolio of gold exploration properties in the Central Newfoundland Gold Belt. Trius’ common shares trade on the TSXV under the symbol “TRU”.
Trius is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization Canadian companies.
For further information, please contact:
Joel Freudman
President & CEO
Trius Investments Inc.
Phone: (647) 880-6414
Cautionary Statements Regarding Forward-Looking Information
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
All information contained in this press release with respect to Trius and Revive Superfoods was supplied by the respective parties for inclusion herein, and each party has relied entirely on the other party for any information concerning the other party. Trius does not assume any responsibility for the accuracy or completeness of the information provided by Revive Superfoods. The link to Revive Superfoods’ website was included herein for general reference purposes only, and the content on such website is expressly not incorporated into this press release by reference.
This press release includes statements containing forward-looking information that reflect the current views and/or expectations of management of Trius and Revive Superfoods, as applicable, including but not limited to those relating to repayment of the Loan in accordance with the Amendment and upon maturity, and Trius’ future investments. Statements containing forward-looking information are not guarantees of future performance and involve risks, uncertainties and assumptions, which are difficult to predict, and which are outside of Trius’ control, including repayment risk and those other risks described in the Company’s continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. Neither Trius nor Revive Superfoods undertakes any obligation to update any forward-looking statements herein except as required by applicable securities laws.
Trius Announces Shareholder Meeting Results and Name Change to TRU Precious Metals Corp.
FREDERICTON, New Brunswick, Oct. 16, 2020 (GLOBE NEWSWIRE) -- Trius Investments Inc. (“Trius” or the “Company”) (TSXV:TRU) is pleased to announce the results of its annual and special meeting of shareholders (the “Meeting”) held earlier today.
FREDERICTON, New Brunswick, Oct. 16, 2020 (GLOBE NEWSWIRE) -- Trius Investments Inc. (“Trius” or the “Company”) (TSXV:TRU) is pleased to announce the results of its annual and special meeting of shareholders (the “Meeting”) held earlier today.
Shareholders approved all routine and special items of business, including electing each of the directors nominated by management, namely Joel Freudman, Damian Lopez, Marisa Muchnik and Peter van Dijken.
As the shareholders of the Company have approved a name change, among other things, the Board has determined to change the name of the Company to “TRU Precious Metals Corp.” Subject to TSXV approval, the new name is anticipated to take effect next week. Trius’ common shares will continue to trade on the TSXV under the symbol “TRU” following the name change.
Trius President and CEO Joel Freudman commented: “As we continue to invest in our Newfoundland Gold Exploration portfolio, we’ve decided that a name change is in order to better reflect our evolving corporate focus.”
About Trius Investments Inc.
Trius seeks unique value-creation opportunities, currently increasing its exposure to the precious metals sector by assembling a portfolio of gold exploration properties in the Central Newfoundland Gold Belt. Trius’ common shares trade on the TSXV under the symbol “TRU”.
Trius is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization Canadian companies.
For further information, please contact:
Joel Freudman
President & CEO
Trius Investments Inc.
Phone: (647) 880-6414
Cautionary Statements Regarding Forward-Looking Information
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain forward-looking statements, including those relating to timing and completion of the corporate name change. These statements are based on numerous assumptions that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: TSXV approval and those other risks described in the Company’s continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.