TGX announces proposed debt settlement and private placement

TGX Energy & Resources Inc. announced on March 27, 2026 a non-brokered private placement of units for aggregate gross proceeds of up to $120,000, consisting of up to 1,200,000 units at $0.10 per unit. Each unit comprises one common share and one warrant exercisable at $0.13 for one year.

The Company also revised the debt settlement terms announced by press releases dated December 24, 2025 and February 4, 2026. Under the revised terms, TGX agreed to settle an aggregate of $190,451.20 in debt accrued through geological consulting fees and expenses by issuing 1,904,512 debt units at a deemed price of $0.10 per unit. Each debt unit comprises one common share and one half of one common share purchase warrant, with each whole warrant exercisable at $0.13 for twelve months from issuance.

Proceeds were earmarked for mineral exploration on the Company's rare earth project in the Yukon, updating technical reports, evaluating resource acquisition and investment opportunities, and working capital.

All securities issued are subject to a statutory hold period of four months and one day from the date of issuance. The placement was subject to the approval of the TSX Venture Exchange.