TriMetals Mining Inc. Closes Final Tranche of its Non-Brokered Private Placement, raising an aggregate of $1,654,250
TriMetals Mining Inc. Closes Final Tranche of its Non-Brokered Private
Placement, raising an aggregate of $1,654,250
Not for distribution to U.S. news wire services or dissemination in the United States.
VANCOUVER, British Columbia, March 05, 2018 -- TriMetals Mining Inc. (TSX:TMI) (the “Company” or “TMI”) is pleased to
announce the closing on March 2, 2018 of the second and final tranche of its non-brokered private placement (the “ Private
Placement ”), raising gross proceeds of $442,500 from the sale of 2,950,000 units (the “ Units”) priced at $0.15 per Unit. In
aggregate, the Company sold 11,028,333 Units and raised $1,654,250 pursuant to the Private Placement.
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 is 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 market response
to our financing, and are glad to make additional room to accommodate current and new shareholder demand.”
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 near-surface, oxide, heap-leachable Gold Springs gold project in mining friendly Utah and Nevada USA, and the
Escalones copper-gold skarn/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 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.