Trigon Closes Fully Subscribed Private Placement Financing
Trigon Closes Fully Subscribed Private Placement Financing
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN
THE UNITED STATES
TORONTO--(BUSINESS WIRE)--March 14, 2022--Trigon Metals Inc. (TSX-V: TM) (“Trigon”
or the “Company”) has closed its previously announced non-brokered private placement
financing of units (the “Offering”) on a fully subscribed basis. The Company issued 4,862,500
units (the “Units”) at a price of $0.40 per Unit for aggregate gross proceeds of $1,945,000.
Each Unit is comprised of one common share of Trigon (a “Share”) and one-half of one common
share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder
thereof to acquire one Share at a price of $0.50 for a period of 24 months following the date
hereof, subject to an acceleration provision whereby in the event that at any time after the expiry
of the statutory hold period, the Shares trade at $0.75 or higher on the TSX Venture Exchange
for a period of 30 consecutive days, the Company shall have the right to accelerate the expiry
date of the Warrants to the date that is 30 days after the Company issues a news release
announcing that it has elected to exercise the acceleration right.
In connection with the Offering, the Company paid cash finder’s fees of $56,000 and issued
140,000 finder’s warrants (the “Finder Warrants”) to eligible finders. Each Finder Warrant will
entitle the holder thereof to acquire one Share at a price of $0.40 for a period of 24 months
following the date hereof. The Offering remains subject to the final approval of the TSX Venture
Exchange.
All securities issued in connection with the Offering are subject to a statutory hold period of
four-months and one-day. The Company intends to use the net proceeds from the Offering for
the recommencement of mining at the Kombat mine and for working capital and general
corporate purposes.
Trigon Metals Inc.
Trigon is a publicly traded Canadian exploration and development company with its core
business focused on copper and silver holdings in mine-friendly African jurisdictions. Currently
the company has operations in Namibia and Morocco. In Namibia, the Company holds an 80%
interest in five mining licences in the Otavi Mountainlands, an area of Namibia widely
recognized for its high-grade copper deposits, where the Company is focused on exploration and
re-development of the previously producing Kombat Mine. In Morocco, the Company is the
holder of the Silver Hill project, a highly prospective copper and silver exploration project.
Cautionary Notes
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
This news release may contain forward-looking statements. These statements include statements
regarding the Offering, the expected use of proceeds of the Offering and the Company’s future
plans and objectives. These statements are based on current expectations and assumptions that
are subject to risks and uncertainties. Actual results could differ materially because of factors
discussed in the management discussion and analysis section of our interim and most recent
annual financial statements or other reports and filings with the TSX Venture Exchange and
applicable Canadian securities regulations. We do not assume any obligation to update any
forward-looking statements, except as required by applicable laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in the United States. The securities 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 state
securities laws and may not be offered or sold within the United States or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state securities laws or an exemption
from such registration is available.
Contacts
For further information:
Jed Richardson
+1 647 276 6002
Website: www.trigonmetals.com