Vancouver, BC, June 20, 2025 (GLOBE NEWSWIRE) — Trident Resources Corp. (TSX-V: ROCK) (OTCQB: TRDTF) (“Trident” or the “Company”) announces that it has closed a non-brokered private placement financing for total gross proceeds of CAD $2,250,000 (the “Private Placement”). The Private Placement attracted participation from two strategic institutional investors.
Trident has allotted and issued 3,000,000 units (the “Units”) at a price of CAD $0.75 per Unit. Each Unit is comprised of one flow-through common share (each, a “FT Share”) and one-half of one transferable warrant (each whole, a “Warrant”). Each Warrant will entitle the holder to purchase one non-flow through common share for a period of two (2) years at a price of CAD $1.15 per share.
In relation to the Private Placement, the Company has paid finder’s fees of $90,000 to an arm’s-length party.
The Company intends to use the proceeds from this Private Placement for exploration and upcoming drilling programs at its Saskatchewan Gold Projects. The Private Placement is subject to final TSX Venture Exchange approval and all securities issued are subject to a four-month-and-one-day hold period.
Jonathan Wiesblatt, CEO, commented: “Trident is well-funded with over $10M in its treasury now consisting of cash and cash-equivalent assets. Over the next few months, the Company will focus on its exploration work which includes drilling at Contact Lake to confirm the high-grade potential resources left behind by the former owner and testing the extension of the trend both along strike and at depth. The Company expects extensive news flow from the assay results in H2 2025. We are extremely excited to be commencing modern gold exploration in the historically prolific and high-grade La Ronge Greenstone Belt. The results from this drill program will be pivotal for resource expansion and planning regional exploration programs in the future.”
The Company will use an amount equal to the gross proceeds from the sale of the FT Shares to incur eligible “Canadian exploration expenses” that will qualify as “flow-through mining expenditures”, as such terms are defined in the Income Tax Act (Canada) (“Qualifying Expenditures”) in relation to the Company’s Gold Projects, on or before December 31, 2026. All Qualifying Expenditures will be renounced in favour of the subscribers effective December 31, 2025.
The securities offered have not been, nor will they be, registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
About Trident Resources Corp.:
Trident Resources Corp. is a Canadian public mineral exploration company listed on the TSX Venture Exchange focused on the acquisition, exploration and development of advanced-stage gold and copper exploration projects in Saskatchewan, Canada. The Company is advancing its 100% owned Contact Lake and Greywacke Lake projects which host significant historical gold resources located within the prospective and underexplored La Ronge Gold Belt, as well as the 100% owned Knife Lake copper project which contains a historical copper resource.
Trident’s Project Portfolio Map:
https://www.tridentresourcescorp.com/projects/contact-gold-project/#&gid=1&pid=1
To find out more about Trident Resources Corp. (TSX-V: ROCK), visit the Company’s website at www.tridentresourcescorp.com
Trident Resources Corp.
Jonathan Wiesblatt, Chief Executive Officer
Email: Jon.Wiesblatt@tridentresourcescorp.com
For further information contact myself or:
Andrew J. Ramcharan, PhD, P.Eng., Corporate Communications
Trident Resources Corp.
Telephone: 647-309-5130
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@tridentresourcescorp.com
NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
Forward-Looking Information and Statements
This release includes certain statements that may be deemed to be “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, regulatory approvals, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedarplus.ca for further information.
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