TRU Precious Metals Corp. announced a private placement and will issue 60,000,000 new common shares at an issue price of CAD 0.05 per share for a gross proceeds of CAD 3,000,000 on June 30, 2023. The transaction will include participation from new investor, Ormonde Mining plc.

The investor to acquire an initial 36.2% controlling interest in the company share capital through a private placement. In addition to the proposed Subscription, each new common share will have a 0.5 share purchase warrant attached, with each full warrant being exercisable to acquire one new common share in company at a price of CAD 0.075 for a period of 36 months following the closing date. The exercise of this option in full would increase investor’s equity holding in the company to 46%.

The investors will appoint three directors to the company board of directors. The transaction is subject to investor’s shareholder approval.