Troy Energy Corp.

Troy Energy Corp.

October 10, 2017 17:52 ET

Troy Energy Corp. Announces Closing of Flow-Through Financing and Director Resignation

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 10, 2017) - Troy Energy Corp. (NEX:TEG.H) (the "Corporation" or "Troy") announces that it has closed its previously announced private placement financing of 1,000,000 flow through common shares at a price of $0.10 per share for aggregate gross proceeds of $100,000. In accordance with applicable securities laws, the common shares issued under this financing will be subject to a four-month hold period that expires on February 11, 2018. The proceeds from this private placement will be used for exploration work on the 3,231 hectare Yellowknife Gold Belt mineral property located 90 kilometres north of Yellowknife that the Corporation has acquired (for details, please refer to the Corporation's press release dated July 18, 2017 and August 25, 2017). The Corporation paid cash commissions totaling $2,800 to PI Financial Corp. in connection with this placement.

The Corporation also announces that Colin Taylor has resigned from the Board of Directors in order to pursue other business activities. The Corporation wishes to thank Colin for his contribution while a Director.

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.

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.

Contact Information

  • James Owen
    Troy Energy Corp.
    Chief Executive Officer
    Phone: (250) 465-1806

    Richard Wingate
    Phone: (306) 229-5029