09:14 AM EDT, 03/23/2026 (MT Newswires) -- Trans Canada Gold ( TTGXF ) on Monday provided updates on its previously announced non-brokered private placement of flow through and non-flow through units and its option agreement in respect of the Harrison Lake Gold property.

The company intends to use the proceeds of the offering for due diligence and other costs related to the acquisition of the Harrison Lake Gold Property located in Southwestern British Columbia of $50,000, initial acquisition costs payable to Bear Mountain Gold Mines under the option agreement respecting the property of $50,000, year-1 exploration expenditures on the property of $600,000, a reserve for future exploration and acquisition costs for the property of $1 million and general working capital of $300,000.

Trans Canada Gold ( TTGXF ) said the NFT offering and the FT offering are subject to a 15% over-allotment option pursuant to which it may sell an additional 1.5-million units for proceeds of up to an additional $225,000, and an additional 416,667 FT units for of up to an additional $75,000.

The company said it is in the process of clearing comments respecting the option agreement from the TSX Venture Exchange (TSXV) and finalizing a first tranche closing of the offering in an amount sufficient to cover year one exploration expenditures and cash option payments under the option agreement of $600,000), as well as working capital needs for one year of $200,000. It anticipates addressing TSXV comments and closing a portion of the offering by early April.

Shares of the company closed unchanged at $0.115 on Friday on the TSXV.