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Private Placement: Troubadour Resources (TSXV:TR)

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The company is looking to raise gross proceeds of up to $600,000 from the placement of up to 5 million units priced at $0.12 per unit. The units consist of 1 share and one-half a warrant, with each full warrant exercisable at $0.18 for 18 months.

Additional Information:

Company: Troubadour Resources
Website: http://www.TroubadourResources.com
Stock Symbol: TSXV: TR
Date Published: Mar 15, 2021
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Troubadour Resources has announced a non-brokered private placement.

The company is looking to raise gross proceeds of up to $600,000 from the placement of up to 5 million units priced at $0.12 per unit.

The units consist of 1 share and one-half a warrant, with each full warrant exercisable at $0.18 for 18 months.

The shares are currently trading at $0.13.

Proceeds will be used to fund exploration on the company’s Texas project, optioned in October.

Don’t be confused by its name, the 2,186-hectare Texas property is located in the Greenwood Mining Division of southern British Columbia.

The road accessible Texas property covers historical mineral showings and is located 3 km southwest of the town of Beaverdell and in close proximity to the past producing Beaverdell Mine that was in operation from 1896 to 1991.

Several showings are present on the property, including two old mines and many older trenches, pits and adits that expose mineralized veins.

The company completed a comprehensive phase 1 field program in the fall of 2020 with the goal of fine-tuning drill targets for an inaugural drill program to commence in 2021.

The company recently announced results of the sampling program with highlights including one grab sample returning 373.8 g/t or 12 oz/t gold and 1305 g/t or 42 oz/t silver.

Another grab sample returned 220.1 g/t or 7 oz/t gold and 827 g/t or 26 oz/t silver.

Geoff Schellenberg, President, stated: “The results from our Phase 1 program include the highest gold and silver values ever reported on the property. Grade and continuity are key in vein-hosted deposits and we are definitely seeing mounting evidence of a robust mineralized system at the Texas project.”

The Texas high-grade gold property diversifies the company’s commodity focus and compliments the 100% owned Amarillo copper project.

The road accessible Amarillo Project is strategically located in close proximity to copper producers in Canada’s most prolific copper belt.

For example, the past-producing Brenda copper-moly-silver-gold porphyry mine that produced 278,000 tonnes of copper, 66,000 tonnes of moly, 125 tonnes of silver and 2 tonnes of gold over a twenty-year mine life is located 10km to the north of Amarillo.

Only limited drilling has occurred at Amarillo with 8 drill holes totaling 2,416 metres being completed in 2018 and 2019.

The most anomalous results and alteration profiles occur within 50 metres of surface.

The company plans to aggressively explore both of our projects this year.

For more information, please visit the company’s website at www.TroubadourResources.com, contact Geoff Schellenberg, President, at 604-681-0221 or by email at geoff@TroubadourResources.com.

I’m Megan Edwards for Investmentpitch Media