NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
TORONTO, Dec. 19, 2019 (GLOBE NEWSWIRE) -- Trigon Metals Inc. (TSX-V: TM) (“Trigon” or the “Company”) intends to complete a non-brokered private placement financing of up to 25,000,000 units (the “Units”) at a price of $0.12 per Unit for gross proceeds of up to $3,000,000 (the “Offering”). Each Unit will be comprised of one common share of Trigon (a “Share”) and 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 $0.20 for a period of 36 months following the closing date of the Offering.
Closing of the Offering is expected to occur on or about December 27, 2019 and remains subject to a number of conditions, including receipt of all necessary regulatory approvals, including the 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 advancing the Kombat Copper Project, reviewing potential strategic acquisition opportunities and for working capital and general corporate purposes.
Appointment of Deborah Battiston as CFO
The Company also announces today that it has appointed Deborah Battiston as Chief Financial Officer, effective immediately.
Deborah Battiston is a CPA-CGA with over 25 years experience in financial management, including public companies, mergers and acquisitions, tax, and financing. She obtained her BA in Economics from the University of Guelph and holds an ICD.D from the University of Toronto’s Rotman School of Management.
Ms. Battiston replaces Mr. Woodhead, the former Chief Financial Officer of the Company. The management and board of directors of the Company would like to thank Mr. Woodhead for his past service and his continued support of the Company.
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
jed.richardson@trigonmetals.com
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, the impact of management changes 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.