TriMetals Mining Inc. Closes $1,211,750 First Tranche of its Non-Brokered Private Placement
TriMetals Mining Inc. Closes $1,211,750 First Tranche of its Non-Brokered
Private Placement
Not for distribution to U.S. news wire services or dissemination in the United States.
VANCOUVER, British Columbia, Feb. 26, 2018 -- TriMetals Mining Inc. (TSX:TMI), (“TriMetals”, “TMI”, or the “Company”), is
pleased to announce that it has issued 8,078,333 units of the Company (the “Units”) at a price of $0.15 per Unit to raise gross
proceeds of $1,211,750. Each Unit consists of one common share of the Company and one-half of one common share
purchase warrant of the Company (each whole common share purchase warrant, a “ Warrant ”). Each Warrant will be
exercisable by the holder to acquire one additional common share of the Company at a price of $0.25 for a period of 24
months, subject to accelerated expiry if, at any time after four months and one day following closing, the closing price of the
Company’s common shares on the Toronto Stock Exchange (the “ TSX”) is $0.35 or above per common share for a period of
10 consecutive trading days.
The net proceeds from the Private Placement will be used for exploration of the Company’s Gold Springs project in Nevada,
working capital and general corporate purposes.
Eric Edwards, the Company’s President and Chief Executive Officer commented, “We are pleased with the show of support
that we have found in this difficult financing market for our gold prospects, our team, and our diversified asset base. We are
able to welcome a substantial number of new Canadian investors to TMI who participated in this offering, along with good
support from our existing shareholders who continue to believe in the gold discovery opportunity at Gold Springs.”
Mr. Edwards further commented, “We are continuing to receive additional subscriptions, and we are planning for a second
tranche closing soon. This financing will provide the Company funding to commit to a substantial 2018 exploration program at
Gold Springs, and explore strategic options to realize value from Escalones copper project.”
Robert van Doorn, Chairman and a director of the Company, subscribed for 1,000,000 Units and Mr. Edwards subscribed for
200,000 Units.
The securities offered 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 U.S. state securities laws, and may not be offered or sold in the United States or to, or for
the account or benefit of, United States persons absent registration or any applicable exemption from the registration
requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an
offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.
About TriMetals Mining Inc.
TriMetals Mining Inc. is a growth focused mineral exploration company creating value through the exploration and development
of the prospective Gold Springs gold-silver project in Utah and Nevada USA, and the Escalones copper-gold porphyry deposit
in Chile. The Company combines a track record of discovery and advancement of large projects, mining and exploration
supportive jurisdictions, low political risk areas, key operational and process expertise, and a focus on community relations
and sustainable development. Management has extensive experience in 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(1) shares also trade on the OTCQX market under the symbol “TMIAF” and
“TMIBF”. Additional information related to TriMetals Mining Inc. is available at www.TriMetalsmining.com and on SEDAR at
www.sedar.com.
1. Note that the Class B shares have no interest in the properties or assets of the Company other than 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 (the “Bolivia
Arbitration”).
TriMetals Mining Inc. Contact:
Eric Edwards
President & CEO
Forward Looking Statements
Certain statements contained herein, including the closing of a second tranche of the Private Placement and the Private
Placement providing the ability to commit to a substantial 2018 exploration program at Gold Springs and explore strategic
options to realize value from Escalones copper project, 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 “expect”, “plan”, “seek”, “continue”, “typical”, “will”, “intention”, “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, risks of the mineral
exploration industry which may affect the advancement of the Gold Springs project, including possible 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 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.