TRU Announces Proposed CAD$3 Million Strategic Investment from Ormonde Mining Plc

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TORONTO, ON / ACCESSWIRE / July 4, 2023 / TRU Precious Metals Corp. (TSXV:TRU)(OTCQB:TRUIF) ("TRU" or the "Company") is pleased to announce that it has entered into a binding subscription agreement (the "Agreement") with Ormonde Mining Plc ("Ormonde") (LON:ORM), with respect to a non-brokered private placement of the Company to be carried out by a wholly-owned subsidiary of Ormonde for gross proceeds of CAD$3,000,000 (the "Offering"). Pursuant to the Offering, the Company will issue a total of 60,000,000 units ("Units") at a price of CAD$0.05 per Unit, with each Unit being comprised of one common share of the Company (each, a "Common Share") and 0.5 of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant would be exercisable to acquire one Common Share at a price of CAD$0.075 for a period of 36 months following the closing date of the Offering.

Completion of the Offering is subject to Ormonde obtaining shareholder approval and delisting from both the LSE Alternative Investment Market ("AIM") and Euronext Growth, and subsequently to Ormonde completing such delisting. Completion of the Offering is also subject to the Company obtaining shareholder and TSX Venture Exchange approval, as discussed below.

Joel Freudman, Co-Founder and Chief Executive Officer of TRU, commented: "On behalf of TRU management and our board of directors, we're very excited to work with Ormonde towards them becoming a significant stakeholder of the Company. Their intended investment in TRU, which would mark Ormonde's first foray into mineral exploration in North America, validates that TRU is significantly undervalued at current share price levels, and cements us on the right path to value-creation ahead. Both parties are extremely committed to successfully completing the Offering. We're confident Ormonde will become an increasingly important partner of TRU, as we draw on their extensive technical expertise, successful transactional experience in the resource sector, and general capital markets savvy as we continue our efforts to develop our Golden Rose Project in central Newfoundland."