TRU Announces Proposed CAD$3 Million Strategic Investment from Ormonde Mining Plc - Seite 2

Ormonde is a natural resources company listed on AIM and on the Euronext Growth market in Dublin. Headquartered in Ireland, Ormonde is focused on evaluating and executing new opportunities in the mineral exploration sector, through which they can leverage their existing balance sheet to create shareholder value. Ormonde is run by a seasoned team with a wide range of experience in natural resources including base and precious metals, investment banking and advisory services, and senior advisory roles. Ormonde has a proven track record in the successful acquisition and sale of natural resource assets, including its most recent transaction, the sale of the La Zarza gold, copper and zinc deposit property located in the Iberian Pyrite Belt in Spain.

Upon completion of the Offering, and assuming no other share issuances by TRU, Ormonde would own approximately 36.19% of the Company's issued and outstanding Common Shares, or 45.97% of the Common Shares on a partially-diluted basis if Ormonde were to exercise all the Warrants that would be issued to it under the Offering.

In connection with the Offering, and provided Ormonde would hold greater than 33% of the issued and outstanding Common Shares, (a) Ormonde would have the right to appoint three out of five nominees to the board of directors of the Company (the "Board") (subject to TSX Venture Exchange approval), and (b) management of the Company would nominate the Ormonde nominees for election as directors of the Company at each annual meeting of shareholders held following closing and the Company would be required to use its best efforts (subject to fiduciary obligations) to ensure that that nominees are elected as directors.

As a further demonstration of the parties' commitment to completing the Offering, the Company has appointed Brian Timmons, the Chairman of the board of directors of Ormonde, to the Board. Mr. Timmons has over 30 years of experience in senior positions within financial institutions and a range of companies across the corporate sector including companies operating in the alternative energy, natural resource, healthcare technology, bioscience and software IT sectors. He is a Fellow of the Association of Chartered Certified Accountants.