TriMetals Mining Announces Closing of $3.5 Million Private Placement
NEWS RELEASE: 17-09
Not for distribution to U.S. news wire services or dissemination in the United States.
TriMetals Mining Announces Closing of $3.5 Million
Private Placement
June 2, 2017, Vancouver, British Columbia — TriMetals Mining Inc. (TSX: TMI,
OTCQX: TMIAF) (the “Company” or “TMI ”) is pleased to announce that it has closed its
previously announced brokered private placement of 14,600,000 units of the Company (the
“Units”) at a price of $0.24 per Unit (the “ Offering”) for gross proceeds to the Company of
$3.5 million. Each Unit consists of one common share of the Company (a “Common Share”)
and one -half of one C ommon Share purchase warrant of the Company (each whole C ommon
Share purchase warrant, a “ Warrant”). Each Warrant entitle s the holder to purchase one
Common Share at a price of $0.30 for a period of 30 months.
A syndicate of agents led by BMO Capital Markets and including PI Financial Corp. and GMP
Securities L.P. (collectively, the “Agents”) acted as agents in connection with the Offering.
The Agents have been granted an option, exercisable in whole or in part for a period of 14 days
from the date hereof, to arrange for the purchase of up to an additional $1,500,000 of Units.
The Corporation intends to use the net pr oceeds from the Offering of $3,048,000 for the
continued exploration and resource expansion at the Gold Springs gold -silver project and for
general corporate purposes.
The securities offered have not been registered under the U.S. Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent registration or an
applicable exemption from the registration requirements. This news release shall not constitute
an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there
be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would
be unlawful.
About TriMetals Mining Inc.
TriMetals Mining Inc. is a growth focused mineral exploration company creating value through
the exploration and development of the near surface, Gold Springs gold -silver project in mining
friendly Nevada and Utah in the U.S.A.
The Company’s approach to business combines the team’s track record of discovery and
advancement of large projects, key operational and process expertise, and a focus on community
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relations and sustainable development. Management has extensive experience i n the global
exploration and mining industry.
The Company’s common shares and Class B shares are listed on the Toronto Stock Exchange
under the symbols “TMI” and “TMI.B” and the common shares and Class B shares also trade on
the OTCQX market under the symbol “TMIAF” and “TMIBF”. Note that the Class B shares have
no interest in the properties or assets of the Company other t han a collective entitlement to 85%
of the net cash, if any, (after deducting all costs, taxes and expenses and the third -party funder's
portion thereof) received by TMI from award or settlement in relation to the Company’s
subsidiary South American Silver Limited’s arbitration proceeding against Bolivia for the
expropriation of the Malku Khota project in 2012. Additional information re lated to TriMetals
Mining Inc. is available at www.trimetalsmining.com and on SEDAR at www.sedar.com.
Forward-Looking Statements
Certain statements contained herein constitute "forward -looking statements". Forward -looking
statements look into the future and provide an opinion as to the effect of certain events and trends on the
business. Forward-looking statements may include words such as "intends", “continue”, “creating”, and
similar expressions. These forward - looking statements are based on current expectations and entail
various risks and uncertainties. Actual results may materially differ from expectations, if known and
unknown risks or uncertainties affect our business, or if our estimates or assumptions prove inaccurate.
Factors that could cause results or events to differ materially from current expectations expressed or
implied by the forward -looking statements, include, but are not limited to, the outcome of the
international arbitration process, including the timing and the quantum of damages to be obtained,
management's expectation with regard to the final amount of costs, fees and other expenses and
commitments payable in connection with the arbitration, and any inability or delay in the collection of
the value of any award or settlement; and risks of the mineral exploration industry which may affect
the advancement of the Gold Springs or Escalones projects, including poss ible variations in mineral
resources or grade, recovery rates, metal prices, availability of sufficient financing to fund further
required work in a timely manner and on acceptable terms, availability of equipment and qualified
personnel, failure of equipment or processes to operate as anticipated, changes in project parameters as
plans continue to be refined; and other risks more fully described in the Company's Annual Information
Form filed and publicly available on SEDAR at www.sedar.com. The assumptions made in developing
the forward-looking statements include: the ability of the Company to realize value from its investments
in Bolivia; the arbitration proceeding in a customary manner and in accordance with Procedural Order
No. 1 (as amended in April and June 2015 and in January 2016) and the third party funder honouring
its contractual commitments, the accuracy of current resource estimates and the interpretation of drill,
metallurgical testing and other exploration results; the continuing support for mining by local
governments in Nevada, Utah and Chile, the availability of equipment and qualified personnel to
advance the Gold Springs project; and the execution of the Company's existing plans and further
exploration and development programs for the Gold Springs Project, which may change due to changes
in the views of the Company or if new information arises which makes it prudent to change such plans
or programs.
Readers are cautioned not to place undue reliance on the forward -looking statements contained in this
news release. Except as required by law, the Company assumes no obligation to update or revise any
forward-looking statement, whether as a result of new information, future events or any other reason.
Unless otherwise indicated, forward- looking st atements in this news release describe the Company's
expectations as of June 2, 2017.
The TSX has not approved or disapproved of the contents of this news release.
TriMetals Mining Inc. Contact:
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Ralph Fitch
President & CEO
303.584.0606
Matias Herrero
Chief Financial Officer
303.584.0606