Vancouver, British Columbia / June 19, 2024 – TheNewswire – Troubadour Resources Inc. (“ TR ” or the “ Company ”) (TSXV: TR) (OTC: TROUF) announces that it has closed its previously announced private placement (the “ Offerings ”) of common shares (“ Shares ”) and units (“ Units ”) of the Company for gross proceeds of $3,500,000.

The Company raised

1.  $944,750 in gross proceeds through the issuance (the “ LIFE Offering ”) of 7,558,000 common shares of the Company (“ LIFE Shares ”) at a price of $0.125 per LIFE Share, pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions (the “ LIFE Exemption ”), and
2. $2,555,250 in gross proceeds through the issuance (the “ Unit Offering ”) of 20,442,000 units of the Company (each, a “ Unit ”). Each Unit consists of one (1) common share (a “ Share ”) of the Company and one-half of one (1/2) transferable Share purchase warrant (a “ Warrant ”) of the Company, with each whole Warrant entitling the holder to purchase an additional Share at a price of $0.175 for a period of 24 months from the date of issuance.

“ We are extremely pleased with the overwhelming support and confidence shown by our investors,” said Chris Huggins, CEO of TR. “ The successful closing of these financings not only strengthens our balance sheet but will also enable us to advance our exploration projects, further our strategic initiatives and unlock increased value for our shareholders .”

The LIFE Shares were offered for sale pursuant to the LIFE Exemption and, accordingly, are not subject to a statutory hold period, in accordance with applicable Canadian securities laws. The securities issued under the Unit Offering are subject to a statutory hold period of four months and one day following the date of issuance.

The net proceeds from the Offerings will be used for fieldwork at the Company’s exploration projects, general corporate purposes, and working capital and as more particularly set forth in the offering document relating to the LIFE Offering, which is available on the Company’s profile on www.sedarplus.ca .

In connection with the Offerings, qualified finders received aggregate cash finders’ fees of $228,938.00 and 1,957,500 broker warrants (the “ Finder Warrants ”). Each Finder Warrant is exercisable to acquire one (1) Share for $0.175 for a period of 24 months from the date of issuance.

This news release does not constitute an offer to sell or a solicitation of an offer to buy securities in the United States. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “ U.S. Securities Act ”) or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. This news release shall not constitute an offer to sell or the solicitation of an offer to buy in the United States or to, or for the account or benefit of, persons in the United States or U.S. Persons nor shall there by any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.