Trigon Closes Second Tranche of Private Placement Financing
TRIGON CLOSES SECOND TRANCHE OF PRIVATE PLACEMENT FINANCING
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED
STATES
Toronto, Canada – March 2, 2018 – Trigon Metals Inc. (TSX-V: TM) (“Trigon” or the “Company”)
has closed the second and final tranche (the “ Second Tranche”) of its previously announced
non-brokered private placement of units (the “Offering”). In this Second Tranche, the Company
issued 271,428 units (the “Units”) at a price of $0.3 5 per Unit for aggregate gross proceeds of
$95,000.
Each Unit consists of one common share of the Company (a “Share”) and one common share
purchase warrant (a “Warrant”). Each Warrant entitles the holder there of to acquire one Share
at a price of $0.50 for a period of 24 months following the closing date of the Second Tranche,
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 $1.00 or higher on the TSX Venture Exchange (on
an average trading volume of not less than 200,000 Shares per day) for a period of 20
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.
Under the initial tranche of the private placement, which closed on January 15 , 2018, Trigon
issued a total of 1,428,571 Units for aggre gate gross proceeds of $ 500,000 (the “Initial
Tranche”). Pursuant to the Initial Tranche and the Second Tranche, the Company has raised a
total of $595,000.
The Company intends to use the net proceeds from the Offering to update its resource
estimate in respect of the surface accessible (open pit) portion of the Kombat mine,
preparation of a bankable feasibility study on the surface accessible (open pit) porti on of the
Kombat mine, exploration and development of the Kombat mine, to secure equipment for the
refurbishment of the existing mill and concentrator at the Kombat mine and for working capital
and general corporate purposes.
The Second Tranche is subject to final approval of the TSX Venture Exchange. The securities
issued pursuant to the Second Tranche will be subject to a four month and one day statutory
hold period expiring on July 3, 2018. In connection with the Second Tranche, Trigon paid
finder’s fees of $3,500.
Trigon Metals Inc.
Trigon is a publicly traded Canadian exploration and development company with its core
operations focused on copper resources in Namibia, one of the world’s most prospective
copper regions, where it has su bstantial assets in place with significant upside. The Company
continues to hold an 80% interest in five mining licenses in the Otavi Mountain lands, an area of
Namibia particularly known for its high -grade copper deposits. Within these licenses are three
past producing mines including the Company’s flagship property, the Kombat Mine.
For further information, contact:
Blake Hylands
Investor Relations +1 (416) 216 5445
Email: [email protected]
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 cont ain forward -looking statements. These statements include
statements regarding the Second Tranche, the expected use of proceeds of the Second Tranche
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 ot her 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.