Trigon Metals Announces Upsizing of Private Placement and Closing of First Tranche
Trigon Metals Announces Upsizing of Private Placement and Closing of First
Tranche
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN
THE UNITED STATES
TORONTO--(BUSINESS WIRE)--February 21, 2025--Trigon Metals Inc. (TSX-V: TM,
OTCQB: PNTZF) (“Trigon” or the “Company”) has closed a non-brokered first tranche (the
“First Tranche”) of its previously announced non-brokered private placement financing of
common shares (the “Offering”). The Company issued 4,390,000 common shares (the “Shares”)
at a price of $0.25 per Share for aggregate gross proceeds of $1,097,500 in the First Tranche.
Due to strong investor demand, the Company is increasing the size of the Offering from total
gross proceeds of $1.7 million to $2,533,100 with a second tranche of confirmed orders totaling
$1,435,600 expected to close on or before February 28, 2025.
In connection with the First Tranche, the Company paid cash finder's fees of $51,200 and issued
15,000 finder’s warrants (the “Finder Warrants”) to eligible finders. Each Finder Warrant entitles
the holder thereof to acquire one Share at a price of $0.25 for a period of 24 months following
the date hereof. The First Tranche remains subject to the final approval of the TSX Venture
Exchange.
All securities issued in connection with the First Tranche are subject to a statutory hold period of
four-months and one-day. The Company intends to use the net proceeds from the First Tranche
for working capital and general corporate purposes. The Offering is subject to the approval of the
TSX Venture Exchange.
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.
Cautionary Notes
This news release may contain forward-looking statements. These statements include statements
regarding the Offering, the use of proceeds of the Offering, the quantum and timing of the second
tranche, the Company’s ability to obtain the requisite approvals for the Offering, the economic
viability of the Kombat mine and the Company, the Company’s ability to obtain adequate
financing, the Company’s strategies and the Company’s abilities to execute such strategies, the
Company’s expectations for the Kombat Mine, 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.
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.
Contacts
For further information, contact Tom Panoulias, VP Corporate Development:
+1 (647) 276-6002 x 1127
Website: www.trigonmetals.com