Trigon Metals Closes Second Tranche of Private Placement Financing
Trigon Metals Closes Second Tranche of Private Placement Financing
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
TORONTO, Sept. 25, 2019 -- 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 financing (the “Offering”). The
Company issued 1,000,000 units (the “Units”) at a price of $0.10 per Unit for gross proceeds of $100,000. 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 $0.15 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 $0.25 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.
Under the initial tranche of the Offering, which closed on September 25, 2019, Trigon issued a total of 13,609,320 Units for
aggregate gross proceeds of $1,360,932 (the “Initial Tranche”). Pursuant to the Initial Tranche and the Second Tranche, the
Company has raised a total of $1,460,932.
The Company intends to use the net proceeds from the Offering for initial project mobilization at the Kombat Mine, review of
potential strategic acquisition opportunities and for working capital and general corporate purposes.
The Company did not pay any finder’s fees in connection with the Second Tranche.
All Units issued pursuant to the Second Tranche will be subject to a four month statutory hold period which expires on January
26, 2020. Closing of the Second Tranche remains subject to the final approval of the TSX Venture Exchange.
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 substantial assets in place with
significant upside. The Company continues to hold an 80% interest in five mining licences in the Otavi Mountain lands, an area
of Namibia particularly known for its high-grade copper deposits. Within these licences are three past producing mines
including the Company’s flagship property, the Kombat Mine.
For further information, contact:
Jed Richardson
+1 416 861 5893
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.