/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN
Each Unit is comprised of one common share (each a "Common Share") and one common share purchase warrant of the Company (each a "Warrant"). Each Warrant entitles the holder to acquire one common share of the Company for a period of 48 months from closing of the Offering at an exercise price of
"The closing of this financing gives us the financial runway we needed until we become operating cash flow positive, which we expect later this year," commented
TGOD will use the proceeds of the Offering for payables related to incurred construction and other expenses, to fund operating cash flows, and for general corporate purposes.
TGOD's common shares trade on the TSX under the symbol "TGOD" and the Warrants will begin trading today on the TSX under the symbol "TGOD.WR".
About The
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TGOD's common shares and warrants issued under the indentures dated
Cautionary Statements
This news release includes statements containing certain "forward–looking information" within the meaning of applicable securities law ("forward–looking statements"). Forward-looking statements in this release include, but are not limited to, statements about the use of proceeds of the Offering, statements about the Company's financing requirements and anticipated operating cash flow and statements regarding the future development of the Company. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties (including market conditions) and other factors that could cause actual events or results to differ materially from those projected in the forward–looking statements; reference is made to the estimates and risk factors set out in the short form prospectus relating to the Offering and the discussion of risk factors set out therein and in the documents incorporated by reference, which are available on SEDAR. Forward–looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "should", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward–looking statements throughout this news release. Forward–looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties (including market conditions) and other factors that could cause actual events or results to differ materially from those projected in the forward–looking statements, including those risk factors described in the Company's most recently filed Annual Information Form available on SEDAR. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward–looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Neither the TSX nor the TSX's Regulation Services Provider (as that term is defined in the policies of
SOURCE The
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