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iCrowdNewswire Sep 2, 2020 6:45 AM ET

Trigon Announces Marketed Private Placement for C$5.0 Million


Trigon Announces Marketed Private Placement for C$5.0 Million

iCrowd Newswire - Sep 2, 2020

Trigon Metals Inc. announces that it has entered into an agreement with Cormark Securities Inc. (“Cormark”) as lead agent and including M Partners Inc. (collectively with Cormark the “Agents”), pursuant to which they have agreed to act as agents in connection with a fully marketed private placement offering of units of the Company (the “Units”) at a price of $0.35 per Unit for aggregate gross proceeds to the Company of a minimum of $5.0 million (the “Offering”).

Each Unit will consist of one common share of the Company (a “Common Share”) and one-half of one Common Share purchase warrant (each full warrant, a “Warrant”). Each Warrant will entitle the holder to acquire one Common Share of the Company at an exercise price of $0.45 for a period of 36 months following the closing of the Offering.

The Company has granted to the Agents an option (the “Over-Allotment Option”), exercisable in whole or in part, in the sole discretion of the Agents, for a period of 30 days from and including the closing date of the Offering, to purchase additional Units, additional Shares and/or additional Warrants, in an aggregate amount not to exceed 15% of Units, Shares or Warrants sold pursuant to the Offering, on the same terms and at the same price as the Units, Shares and Warrants sold under the Offering, to cover over-allotments, if any, and for market stabilization purposes.

The net proceeds of the Offering will be used to acquire additional silver-copper projects associated with the Silver Hill Project in Morocco, for exploration on the Silver Hill Project and general corporate purposes.

The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the TSX Venture Exchange (the “TSXV”) and is scheduled to close on or about September 22, 2020.

The Agents will be entitled to a cash fee and compensation warrants on the sale of Shares in accordance with the policies of the TSXV.

This new 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 or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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. Namibia is one of the world’s most prospective copper regions, where Trigon has substantial assets in place. The Company continues to hold an 80% interest in five mining licences in the Otavi Mountain lands, an area of Namibia widely recognized 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

+1 416 566 8134

Contact Information:

Jed Richardson

+1 416 566 8134








Tags:    Wire, Disclosure Newswire, United States, English