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TriMetals Mining Inc. Closes Final Tranche of its Non-Brokered Private Placement, raising an aggregate of $1,654,250

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TriMetals Mining Inc. Closes Final Tranche of its Non-Brokered Private Placement, raising an aggregate of $1,654,250

 

 

 

 

 

TriMetals Mining Inc. (TSX:TMI) is pleased to announce the closing on March 2, 2018 of the second and final tranche of its non-brokered private placement raising gross proceeds of $442,500 from the sale of 2,950,000 units priced at $0.15 per Unit.  In aggregate, the Company sold 11,028,333 Units and raised $1,654,250 pursuant to the Private Placement. 

 

 

Each Unit consists of one common share of the Company and one-half of one common share purchase warrant of the Company. Each Warrant is exercisable by the holder to acquire one additional common share of the Company at a price of $0.25 for a period of 24 months, subject to accelerated expiry if, at any time after four months and one day following closing, the closing price of the Company’s common shares on the Toronto Stock Exchange is $0.35 or above per common share for a period of 10 consecutive trading days.

 

 

The net proceeds from the Private Placement will be used for exploration of the Company’s Gold Springs project in Nevada, working capital and general corporate purposes.

 

 

Eric Edwards, the Company’s President and Chief Executive Officer commented, “We are pleased with the market response to our financing, and are glad to make additional room to accommodate current and new shareholder demand.”

The securities offered 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 U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.

 

 

About TriMetals Mining Inc.
 

TriMetals Mining Inc. is a growth focused mineral exploration company creating value through the exploration and development of the near-surface, oxide, heap-leachable Gold Springs gold project in mining friendly Utah and Nevada USA, and the Escalones copper-gold skarn/porphyry deposit in Chile.  The Company combines a track record of discovery and advancement of large projects, mining and exploration supportive jurisdictions, low political risk areas, key operational and process expertise, and a focus on community relations and sustainable development. Management has extensive experience in the global exploration and mining industry.

 

 

The Company’s common shares and Class B shares are listed on the Toronto Stock Exchange under the symbols “TMI” and “TMI.B” and the common shares and Class B(1) shares also trade on the OTCQX market under the symbol “TMIAF” and “TMIBF”.  Additional information related to TriMetals Mining Inc. is available at www.TriMetalsmining.com and on SEDAR at www.sedar.com.

 

  1. Note that the Class B shares have no interest in the properties or assets of the Company other than a collective entitlement to 85% of the net cash, if any, (after deducting all costs, taxes and expenses and the third-party funder’s portion thereof) received by TMI from award or settlement in relation to the Company’s subsidiary South American Silver Limited’s arbitration proceeding against Bolivia for the expropriation of the Malku Khota project in 2012 (the “Bolivia Arbitration”). 

 

 

Posted March 5, 2018

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