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Troilus Gold completes C$15.8M fundraising, C$1.2M short of target

Troilus Gold Corp. completed its previously announced financing round, raising C$15.8 million, just short of the C$17 million targeted.

The company said June 5 that the bought-deal offering raised the full C$10 million planned, while the private placement of flow-through shares fell short of the C$7 million target at just under C$5.8 million.

Troilus Gold will use the funds for exploration at its past-producing Troilus gold-copper project in Quebec.

The company outlined plans to exercise its option to acquire the property in early February while kicking off a 30,000-meter drill program.