Trigon Closes Oversubscribed Second Tranche of Private Placement Financing
Trigon Closes Oversubscribed Second Tranche of Private Placement
Financing
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
TORONTO, Sept. 20, 2021 (GLOBE NEWSWIRE) -- Trigon Metals Inc. (TSX-V: TM) (“Trigon” or the “Company”) has closed,
on an oversubscribed basis due to investor demand, a non-brokered second and final tranche (the “Second Tranche”) of its
previously announced private placement of units (the “Offering”). The Company issued 7,562,500 units (the “Units”) pursuant to
the Second Tranche at a price of $0.40 per Unit for aggregate gross proceeds of $3,025,000. Combined with the first tranche of
the Offering, which closed earlier this month, the Company has issued a total of 17,165,000 Units in the Offering for aggregate
gross proceeds of $6,866,000.
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 will entitle 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 Second Tranche, the Company paid cash finder’s fees of $117,740 and issued 294,350 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 Second Tranche remains subject to the approval of the TSX
Venture Exchange.
All securities issued in connection with the Second Tranche will be 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.
For further information, contact:
Jed Richardson
+1 647 676 6002
Website: www.trigonmetals.com
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.