Trigon Metals Announces Upsizing of Private Placement Financing and Closes Book
TRIGON METALS ANNOUNCES UPSIZING OF PRIVATE PLACEMENT FINANCING AND CLOSES
BOOK
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Toronto, Canada – August 25, 2021 – Trigon Metals Inc. (TSX-V: TM) (“Trigon” or the “Company”)
is pleased to announce that due to investor demand, the Company is increasing its previously
announced non-brokered private placement financing from total gross proceeds of up to
$5,000,000 to total gross proceeds of up to $6, 844,000.00 (the “Offering”). The Offering will now
consist of up to 17,110,000 units (the “Units”) at a price of $0.40 per Unit. The Company has now
closed the order book and will move to close the Offering.
Each Unit will be 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 closing date
of the Offering, 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 ann ouncing
that it has elected to exercise the acceleration right.
Closing of the Offering is expected to occur on or about September 10, 2021 and remains subject to
a number of conditions, including receipt of all necessary regulatory approvals, including t he
approval of the TSX Venture Exchange. In connection with the Offering, a finder’s fee may be
payable in line with the policies of the TSX Venture Exchange. All securities issued in connection
with the Offering 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% inter est 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
+1 647 276 6002
Website: www.trigonmetals.com
Cautionary Notes
Neither TSX Venture Exchange nor its Regulation Services Provider (as that t erm 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 expectat ions 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 repo rts 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 t o 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.