Troilus Gold Corp. (TSX: TLG, OTCQX: CHXMF, FSE: CM5R), a Canadian-based gold and copper exploration company, has successfully closed a $28 million bought deal offering. This financial milestone enhances the company’s ability to further develop its flagship Troilus Gold Project, located in Quebec’s Frotet-Evans Greenstone Belt. The project has shown substantial promise as one of Canada’s most significant undeveloped gold-copper assets.
The financing was secured through a bought deal offering led by a syndicate of major underwriters, including Haywood Securities Inc. and Desjardins Capital Markets. Other underwriters involved in the deal were Cormark Securities Inc., Eight Capital Corp., Red Cloud Securities Inc., and BMO Nesbitt Burns Inc. This structure guarantees the company a predetermined amount of capital, regardless of market conditions, and signals strong investor confidence in Troilus’ potential.
The $28 million raised will be primarily directed toward advancing the exploration and development of the Troilus Gold Project, one of the most prospective gold-copper sites in Canada. The additional capital will fund ongoing resource expansion drilling, infrastructure enhancement, and studies aimed at advancing the project toward production.
Troilus Gold’s flagship project, located in Quebec’s mining region, is a former open-pit mine that was operated by Inmet Mining until 2010. Since acquiring the site, Troilus Gold has focused on expanding the resource base through additional drilling campaigns and advancing feasibility studies to evaluate the economic viability of restarting mining operations. With this new financial backing, Troilus will further expand exploration to boost the current mineral resource base, conduct feasibility studies to assess the potential for future production, as well as pursue environmental and permitting work crucial for advancing the project toward development.
The success of the bought deal offering reflects rising investor confidence in the mining sector, particularly in gold and copper exploration amid increasing demand for precious and industrial metals. Troilus Gold’s commitment to responsible development and leveraging Quebec’s strong mining infrastructure has attracted institutions looking to invest in high-potential gold projects.
Troilus Gold Corp.’s $28 million bought deal offering marks a critical milestone, positioning the company to advance its Troilus Gold Project toward production. As Troilus accelerates its exploration and development activities, industry observers will watch closely for significant developments in what is expected to be one of Canada’s largest future gold-copper operations. The deal further cements Troilus Gold’s role as a key player in North America’s mining sector.
