March 6, 2023 – Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) today announces that the Company has received approval from the TSX Venture Exchange (the “Exchange”) to close its previously announced (see news release March 1, 2023) non-brokered private placement of flow-through and non-flow through units (the “Private Placement”) for combined aggregate gross proceeds of $809,120.
The Company will now issue 4,216,000 flow-through units (“FT Unit”) at a price of $0.12 per FT Unit, for gross proceeds of $505,920, each FT Unit consisting of one (1) flow-through common share and one (1) common share purchase warrant, each warrant being exercisable for an additional common share of the Company at a price of $0.15 for 36 months following the date of issuance, subject to the right of the Company to accelerate the exercise period to 30 days if, following the expiry of the 4-month hold, shares of the Company close at or above $0.25 for 10 consecutive trading days. The flow-through shares will entitle the holder to receive the tax benefits applicable to flow-through shares, in accordance with provisions of the Income Tax Act (Canada).
The Company will also now issue 3,032,000 non-flow through units (“NFT Unit”) at a price of $0.10 per NFT Unit for aggregate gross proceeds of $303,200, each NFT Unit consisting of one (1) common share and one (1) common share purchase warrant, each warrant being exercisable for an additional common share of the Company at a price of $0.15 for 36 months following the date of issuance, subject to the right of the Company to accelerate the exercise period to 30 days if, following the expiry of the 4-month hold, shares of the Company close at or above $0.25 for 10 consecutive trading days.
In connection with the Private Placement, the Company is is paying cash finders’ fees totalling $7,860 and issuing 72,000 broker warrants, such broker warrants being exercisable at $0.15 for 36 months. All securities issued pursuant to the Private Placement are subject to a four month and one day hold period. The Private Placement is subject to approval by the TSX Venture Exchange.
Druid Exploration Inc., a company fully owned by the CEO and President of Trailbreaker, has participated in the Financing for 300,000 Flow-Through Units ($36,000), that portion of the Financing a “related party transaction” as such term is defined under MI 61-101 – Protection of Minority Security Holders in Special Transactions. The Company is relying on exemptions from the formal valuation requirement of MI-61-101 under sections 5.5(a) and (b) of MI 61-101 in respect of the transaction as the fair market value of the transaction, insofar as it involves the interested party, is not more than 25% of the Company’s market capitalization.
The Company will use an amount equal to the gross proceeds received by the Company from the sale of the FT Units, pursuant to the provisions in the Income Tax Act (Canada), to incur eligible “Canadian exploration expenses” that qualify as “flow-through mining expenditures” as both terms are defined in the Income Tax Act (Canada) (the “Qualifying Expenditures”) on or before December 31, 2024, and to renounce all the Qualifying Expenditures in favour of the subscribers of the FT Units effective December 31, 2023.
The proceeds of the Private Placement will be used to advance the Company’s various exploration projects, and for working capital purposes.
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
Neither the 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 this release.
March 1, 2023 – Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) today announces that the Company has filed documents with the TSX Venture Exchange (the “Exchange”) seeking approval to close its previously announced (see news release February 9, 2023) non-brokered private placement of flow-through and non-flow through units (the “Private Placement”) for combined aggregate gross proceeds of $809,120.
On receipt of TSX Venture Exchange approval, the Company will issue 4,216,000 flow-through units (“FT Unit”) at a price of $0.12 per FT Unit, for gross proceeds of $505,920, each FT Unit consisting of one (1) flow-through common share and one (1) common share purchase warrant, each warrant being exercisable for an additional common share of the Company at a price of $0.15 for 36 months following the date of issuance, subject to the right of the Company to accelerate the exercise period to 30 days if, following the expiry of the 4-month hold, shares of the Company close at or above $0.25 for 10 consecutive trading days. The flow-through shares will entitle the holder to receive the tax benefits applicable to flow-through shares, in accordance with provisions of the Income Tax Act (Canada).
The Company will also issue up to 3,032,000 non-flow through units (“NFT Unit”) at a price of $0.10 per NFT Unit for aggregate gross proceeds of $303,200, each NFT Unit consisting of one (1) common share and one (1) common share purchase warrant, each warrant being exercisable for an additional common share of the Company at a price of $0.15 for 36 months following the date of issuance, subject to the right of the Company to accelerate the exercise period to 30 days if, following the expiry of the 4-month hold, shares of the Company close at or above $0.25 for 10 consecutive trading days.
In connection with the Private Placement, and on receipt of Exchange approval, the Company will pay 3 finders cash finders’ fees totalling $7,860 and issue 72,000 broker warrants, such broker warrants being exercisable at $0.15 for 36 months. All securities issued pursuant to the Private Placement will be subject to a four month and one day hold period. The Private Placement is subject to approval by the TSX Venture Exchange.
Druid Exploration Inc., a company fully owned by the President and CEO of Trailbreaker, has participated in the Financing for 300,000 Flow-Through Units ($36,000), that portion of the Financing a “related party transaction” as such term is defined under MI 61-101 – Protection of Minority Security Holders in Special Transactions. The Company is relying on exemptions from the formal valuation requirement of MI-61-101 under sections 5.5(a) and (b) of MI 61-101 in respect of the transaction as the fair market value of the transaction, insofar as it involves the interested party, is not more than 25% of the Company’s market capitalization.
The Company will use an amount equal to the gross proceeds received by the Company from the sale of the FT Units, pursuant to the provisions in the Income Tax Act (Canada), to incur eligible “Canadian exploration expenses” that qualify as “flow-through mining expenditures” as both terms are defined in the Income Tax Act (Canada) (the “Qualifying Expenditures”) on or before December 31, 2024, and to renounce all the Qualifying Expenditures in favour of the subscribers of the FT Units effective December 31, 2023.
The proceeds of the Private Placement will be used to advance the Company’s various exploration projects, and for working capital purposes.
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
Neither the 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 this release.
February 9, 2023 – Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) today announces that the Company intends to complete a non-brokered private placement of flow-through and non-flow through units (the “Private Placement”) for combined aggregate gross proceeds of up to $900,000. The Private Placement is expected to close on or before February 24, 2023.
On receipt of TSX Venture Exchange approval, the Company will issue up to 5,000,000 flow-through units (“FT Unit”) at a price of $0.12 per FT Unit, for gross proceeds of up to $600,000, each FT Unit consisting of one (1) flow-through common share and one (1) common share purchase warrant, each warrant being exercisable for an additional common share of the Company at a price of $0.15 for 36 months following the date of issuance, subject to the right of the Company to accelerate the exercise period to 30 days if, following the expiry of the 4-month hold, shares of the Company close at or above $0.25 for 10 consecutive trading days. The flow-through shares will entitle the holder to receive the tax benefits applicable to flow-through shares, in accordance with provisions of the Income Tax Act (Canada).
In addition, the Company will issue up to 3,000,000 non-flow through units (“NFT Unit”) at a price of $0.10 per NFT Unit for aggregate gross proceeds of up to $300,000, each NFT Unit consisting of one (1) common share and one (1) common share purchase warrant, each warrant being exercisable for an additional common share of the Company at a price of $0.15 for 36 months following the date of issuance, subject to the right of the Company to accelerate the exercise period to 30 days if, following the expiry of the 4-month hold, shares of the Company close at or above $0.25 for 10 consecutive trading days.
In connection with the Private Placement, the Company may pay finders’ fees in cash or securities or a combination of both, as permitted by the policies of the TSX Venture Exchange. All securities issued pursuant to the Private Placement will be subject to a four month and one day hold period. The Private Placement is subject to approval by the TSX Venture Exchange.
The Company will use an amount equal to the gross proceeds received by the Company from the sale of the FT Units, pursuant to the provisions in the Income Tax Act (Canada), to incur eligible “Canadian exploration expenses” that qualify as “flow-through mining expenditures” as both terms are defined in the Income Tax Act (Canada) (the “Qualifying Expenditures”) on or before December 31, 2024, and to renounce all the Qualifying Expenditures in favour of the subscribers of the FT Units effective December 31, 2023.
The proceeds of the Private Placement will be used to advance the Company’s various exploration projects, and for working capital purposes.
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
Neither the 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 this release.
January 20, 2023 – Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) is pleased to announce the acquisition of the Castle Rock property on northern Vancouver Island, British Columbia (BC).
The property was acquired through claim staking, then expanded through a partnership with Cazador Resources Ltd. (“Cazador”) in January, 2023. Together, the companies own 100% of the property with no underlying payments or royalties.
In September, 2022, Trailbreaker completed a first-pass prospecting program at the Castle Rock claims. The program was designed to follow up on historic values and included channel sampling, prospecting, and soil sampling. A presentation PDF of the property highlights can be found here.
Highlights of the Castle Rock property
Covers 3,108 hectares of land on northern Vancouver Island, approximately 70 km northwest of Campbell River, BC (see Figure 1 – Location)
Relatively new discovery, in an area that hosts copper-gold (Cu-Au) porphyry, volcanogenic massive sulphide (VMS), and gold skarn deposits
Northern Vancouver Island is host to several large Cu-Au porphyry deposits including Northisle’s Hushamu deposit (Inferred Resource of 5.57 Moz AuEq), and BHP Billiton’s past producing Island Copper deposit (produced >2.7 B lb Cu and >1.0 Moz Au)
Vancouver Island is host to the Myra Falls VMS deposit (>1.5 Moz Au past production) and the Merry Widow gold skarn deposit (>200 Koz Au past production)
Newly accessible via recent logging activity
Historic chip sample returned assays of 2.0 g/t Au over 30 metres (source: Heart Minfile, 2012)
Historic grab sampling from boulders returned assays up to 135 g/t Au, 1.5 km west of Heart showing (source: Flan Minfile, 2007)
Gold is hosted in Jurassic granodiorite dykes which have been emplaced along a regional-scale fault zone separating Lower to Middle Triassic Daonella Bed sediments from Upper Triassic Karmutsen Formation basalts
Daithi Mac Gearailt, CEO of Trailbreaker, commented, “The Castle Rock property is Trailbreaker’s newest addition to our portfolio of high-quality precious metal and copper assets. This is an overlooked and underexplored area of Vancouver Island that has recently been made more accessible. With a short geochemical sampling and reconnaissance program, the team was able to delineate a large, gold-bearing dyke system over at least 400 metres, coinciding with a district-scale fault. This system has strong potential for expansion.”
Figure 1: Location of the Castle Rock property on Vancouver Island (Gold production and resource values obtained from Ministry of Energy and Mines, BCGS Information Circular 2014-04).
Partnership with Cazador Resources
In January, 2023, Trailbreaker signed a partnership agreement with Cazador Resources Ltd. This partnership will increase the effectiveness of future exploration in the Schoen Creek area, including the Castle Rock property. The details of the agreement are as follows:
Each party owns 50% of the property;
All agreed-upon expenses incurred and potential proceeds will be split between the parties;
All information will be shared between the parties to enhance development of the property;
The agreement is perpetual unless terminated by mutual consent of both parties.
Trailbreaker Resources’ 2022 exploration program
In September, 2022, Trailbreaker completed a first-pass, 3-day evaluation program on the Castle Rock claims.
The program included a detailed soil sample survey consisting of 116 samples, as well as 32 metres of channel sampling designed to confirm the historic grades and thickness. The program successfully confirmed historic gold grades, with 2022 values up to 0.680 g/t Au over 13.11m, including a subinterval of 1.85 g/t Au over 2.92m.
The soil sample survey outlined a 50m x 400m, northwest-southeast trending gold-in-soil anomaly interpreted to represent the surface footprint of the gold-bearing dyke exposed at the Heart showing. The soil values reached a maximum of 5.44 g/t Au, and the anomaly remains open (see Figure 2 – Surface Geochemistry).
Future Exploration at Castle Rock
No past systematic geochemical or geophysical work has been done on the property. Trailbreaker plans to execute a property-wide geochemical soil survey to further expand the Heart zone and identify other mineralized intrusive dykes. Historic silt sampling has outlined additional targets on the property, with samples returning up to 860 ppb Au that have undergone no follow-up exploration to date. Furthermore, a second historic gold showing (Flan showing) discovered in 2000, approximately 1.5 km west of the Heart showing, consists of numerous high-grade boulders assaying up to 135 g/ Au. These boulders are believed to be sourced from the Heart showing which is located upstream. This indicates potential for the Heart zone to host much higher-grade gold mineralization than that identified to date.
Trailbreaker’s team believes the Castle Rock project represents an exciting discovery that has been overlooked in the past, and, given its association with large district-scale structures and open-ended anomalies, has potential to be rapidly expanded into a significant gold prospect.
Figure 2: Surface geochemistry of the Castle Rock property. Trailbreaker’s 2022 exploration results at the Heart zone are shown on the top two maps.
“The Castle Rock property represents Trailbreaker’s continued focus as a project generator. We are very excited to sink our teeth into exploring a new gold district. The completed program has shown this to be a large mineralized system, with plenty of opportunity for new discoveries. The team, including myself, along with the team at Cazador Resources, will be diligently planning the next steps for this project.”
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Trailbreaker’s BC and Yukon exploration projects, and has reviewed and approved the technical information in this release.
For new information about the Company’s projects, please visit Trailbreaker’s website at TrailbreakerResources.com and sign up to receive news. For further information, follow Trailbreaker’s tweets at Twitter.com/TrailbreakerLtd, use the ‘Contact’ section of our website, or contact us at (604) 681-1820 or at info@trailbreakerresources.com.
Neither the 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 this release.
Forward-Looking Statements
Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related permitting. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “anticipates”, “expects”, “understanding”, “has agreed to” or variations of such words and phrases or statements that certain actions, events or results “would”, “occur” or “be achieved”. Although Trailbreaker has attempted to identify important factors that could affect Trailbreaker and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. In making the forward-looking statements in this news release, if any, Trailbreaker has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Trailbreaker does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
November 28, 2022 – Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) is pleased to announce the results of the 2022 exploration program at its 100%-owned Atsutla Gold project, located in northwestern British Columbia (BC).
First-pass prospecting on newly staked claims has led to the discovery of high-grade gold mineralization 3.5 km northeast of the Highlands zone, in an area now termed the ‘Snook zone’. Assays of rock grab samples returned values up to 53.3 g/t gold (Au) from quartz vein talus boulders with galena-bornite-chalcopyrite mineralization.
Twenty-four kilometres east of the Highlands and Snook zones, follow-up prospecting and soil sampling at the Swan zone revealed a new gold-in-soil anomaly. This is located about one kilometre northeast of the 900 m x 700 m multi-element anomaly representing the surface expression of a porphyry centre defined in 2021. This new anomaly is about 559 metres long, with values up to 268 ppb Au. Assays of rock grab samples from the Swan zone yielded values up to 11.7 g/t Au and 212 g/t silver (Ag) (separate samples).
Between the Swan and Snook zones lies a large area of un-explored ground. First-pass prospecting in the Shownektaw Creek area led to the discovery of multiple new gossanous alteration zones within the Christmas Creek Batholith. A grab sample of gossanous talus float returned an assay of 22.1 g/t Au.
The 2022 exploration program also included detailed structural and geological mapping at the four high-grade gold zones discovered and defined in 2021, with a focus on drill target generation. Thirty-one samples were sent for petrographic analysis to aid in determining the nature of the widespread gold mineralization. This independent structural report remains outstanding, and the Company will issue another press release providing the results once received.
Daithi Mac Gearailt, CEO of Trailbreaker, commented, “The Atsutla Gold Project continues to deliver new and exciting discoveries. We have now identified high-grade gold showings across 28 kilometers, spanning multiple lithologies. With these new results and the pending detailed geological report, I am confident that we will have a de-risked drill plan in hand by the end of the year.”
Newly discovered Snook zone
The Snook zone is located 3.5 km northeast of the Highlands zone – a 2021 discovery consisting of multiple high-grade and visible gold showings (>100 g/t Au) across a 750 m x 600 m area (see Map 1 – Atsutla West). A previously identified prominent east-west trending fault (the Snook Fault) defines the southern boundary of the zone and cuts through Snook Lake. At least two generations of quartz veining were identified at the Snook zone. The earlier set comprises steeply dipping sheeted veins which are crosscut by later shallow-dipping veins. Sulphide mineralization consists of variable amounts of pyrite, bornite, chalcopyrite, galena, and arsenopyrite. Galena and arsenopyrite appear to be constrained to the later set of quartz veining. The veining occurs within granodiorite of the early Jurassic Christmas Creek Batholith. Highlights include:
3 g/t Au from a quartz vein boulder with galena-chalcopyrite mineralization (Photo 1);
55 g/t Au from an outcrop of sheeted quartz veins typically 5-10 cm wide with chalcopyrite-pyrite mineralization (Photo 2);
78 g/t Au from a quartz vein boulder with arsenopyrite-pyrite mineralization south of the Snook Fault.
Photos 1 and 2: Snook zone quartz-galena-chalcopyrite boulder assaying 53.3 g/t Au (left) and sheeted quartz-chalcopyrite-pyrite veins assaying 7.55 g/t Au.
An Option Agreement has been signed with Mr. Torrey Fredlund (the “Vendor”) for Trailbreaker to obtain a 100% interest in his ‘Golden Echelon’ claim block located between the Snook and Highland zones. The block consists of one claim covering 132 hectares. Prior to the 2022 exploration program, an agreement was made allowing for Trailbreaker to explore and evaluate the claim block before finalizing an option agreement.
Pursuant to the terms of the Option Agreement and subject to receipt of all regulatory approvals, Trailbreaker can earn a 100% interest in the Property by making staged share issuances totaling 80,000 common shares over three years and a making a one-time cash payment of $25,000 as follows:
10,000 common shares on receipt of TSX Venture Exchange approval;
10,000 common shares on or before November 16, 2023;
10,000 common shares on or before November 16, 2024; and
50,000 common shares and $25,000 cash payment on or before November 16, 2025.
The Vendor will retain a 1% Net Smelter Royalty and Trailbreaker has the right to buy back the 1% NSR within a two-year period from the exercise of the option for a cash payment of $50,000 and issuance of 100,000 common shares.
Swan zone follow-up and reconnaissance sampling
The 2022 work program included follow-up and reconnaissance exploration at the Swan zone (see Map 2 – Swan). The Swan zone area was initially staked by Trailbreaker to cover a historical molybdenum-copper porphyry prospect that was discovered in the late 1960s and explored periodically since then. Despite the collection of more than 500 soil and surface rock samples, and the completion of almost 1,000 metres of shallow diamond drilling, no geochemical analysis for gold was done before Trailbreaker staked the area.
In 2021, Trailbreaker identified a 900 m x 700 m gold (Au) – arsenic (As) – silver (Ag) – antimony (Sb) – copper (Cu) – molybdenum (Mo) – lead (Pb) soil anomaly, with multiple gold and silver showings in bedrock. The core of the soil anomaly is located ~1.2 km east of the historical drilling.
Exploration in 2022 led to the discovery of additional gold mineralization within the soil anomaly, whereby assaying of rock grab samples returned values up to 11.7 g/t Au, 212 g/t Ag, and 0.12% Cu. Gold is associated primarily with disseminated and massive arsenopyrite mineralization within a porphyritic leucogranite unit of the Upper Cretaceous Glundebery Batholith.
A reconnaissance soil sample line identified a new 550-metre-long gold anomaly located 1 km east of the main Swan zone anomaly. Assaying of soil samples yielded values up to 268 ppb Au within this new anomaly.
First-pass prospecting was conducted on a ridge 2 km west of the Swan zone, across the valley from where the historic diamond drilling was conducted. Multiple new quartz-arsenopyrite showings were identified, and assays returned values up to 0.79 g/t Au.
About the Atsutla Gold Project
Trailbreaker’s 100%-owned Atsutla Gold project is located 70 km south of the Yukon-British Columbia border and 130 km northwest of the community of Dease Lake, BC. The project covers 40,057 hectares of ground with very limited historic exploration. The project represents a district-scale discovery in an under-explored area of British Columbia.
To date, Trailbreaker has identified five gold zones at Atsutla: The Highlands, Christmas Creek, Snook, Willie Jack, and Swan zones, which span a distance of 28 kilometres. The highest grades occur at the Highlands zone, where grab samples have returned values up to 630 g/t (18.38 oz/ton) gold and 1,894 g/t (55.25 oz/ton) silver. High-grade, vein- and wallrock-hosted copper mineralization has also been discovered in the Highlands, Christmas Creek, and Willie Jack zones, with grab sample assays up to 1.7% copper. For more information and detailed maps, see the Atsutla Gold Project section on Trailbreaker’s website.
Message from the President
“The Atsutla Gold project is district-scale discovery with not only the gold-bearing copper porphyry model at Swan but also a large robust high-grade gold system at the Highlands, Christmas Creek, and Snook zones. We own it 100%, it’s brand-new and begging to be drilled!”
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Trailbreaker’s BC and Yukon exploration projects, and has reviewed and approved the technical information in this release.
For new information about the Company’s projects, please visit Trailbreaker’s website at TrailbreakerResources.com and sign up to receive news. For further information, follow Trailbreaker’s tweets at Twitter.com/TrailbreakerLtd, use the ‘Contact’ section of our website, or contact us at (604) 681-1820 or at info@trailbreakerresources.com.
Neither the 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 this release.
Forward-Looking Statements
Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related permitting. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “anticipates”, “expects”, “understanding”, “has agreed to” or variations of such words and phrases or statements that certain actions, events or results “would”, “occur” or “be achieved”. Although Trailbreaker has attempted to identify important factors that could affect Trailbreaker and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. In making the forward-looking statements in this news release, if any, Trailbreaker has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Trailbreaker does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
September 22, 2022 – Trailbreaker Resources Ltd. (TBK.V) (“Trailbreaker” or “the Company”) announces that subject to all regulatory approvals, it has reduced the exercise price of 3,224,600 common share purchase warrants (the “Warrants”) to $0.25. The Warrants were issued pursuant to the following private placement financing:
May 12, 2021 800,000 share purchase warrants exercisable at $0.35 and 2,424,600 share purchase warrants exercisable at $0.49
The Company has also applied to extend the exercise period of all of the Warrants to May 12, 2024.
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
For new information about the Company’s projects, please visit Trailbreaker’s website at TrailbreakerResources.com and sign up to receive news. For further information, follow Trailbreaker’s tweets at Twitter.com/TrailbreakerLtd, use the ‘Contact’ section of our website, or contact us at (604) 681-1820 or at info@trailbreakerresources.com.
Neither the 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 this release.
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