Business
TriMetals Mining Inc. Announces Closing of First Tranche of Private Placement
VANCOUVER, BC--(Marketwired - July 05, 2016) - TriMetals Mining Inc. (TSX: TMI) (TSX: TMI.B) (OTCQX: TMIAF) (OTCQX: TMIBF) , (the "Company"), is pleased to anno
About this update from Gold Springs Resource Corp.
[{"type":"text","content":"VANCOUVER, BC--(Marketwired - July 05, 2016) - TriMetals Mining Inc. (TSX: TMI) (TSX: TMI.B) (OTCQX: TMIAF) (OTCQX: TMIBF) , (the \"Company\"), is pleased to announce that it has closed today the first tranche of its private placement (the \"Private Placement\") with a total of 8,945,000 units (the \"Units\") of the Company at a price of $0.25 per Unit for aggregate proceeds of CDN$ 2,236,250. Each Unit comprises of one common share and one half of one common share purchase warrant (\"Warrant\"). Each whole Warrant entitles the holder to purchase an additional common share of the Company at an exercise price of $0.40 per share until July 5, 2019. The Company expects to close the second tranche of the private placement on July 11, 2016. Ralph Fitch, President stated \"We are very excited with the strong investor interest in this financing, which strengthens the Company's balance sheet and allows for further advancement of our Gold Springs Project in mining friendly Nevada/Utah\". The proceeds from the Private Placement will be used to fund the exploration of the Company's Gold Springs property in the Nevada/Utah border and for general working capital purposes. All securities issued under the private placement will be subject to a four month hold period from the closing date under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada. The Private Placement remains subject to the final approval of the TSX 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, Gold Springs gold-silver project in mining friendly Nevada and Utah in the U.S.A. The Company's approach to business combines the team's track record of discovery and advancement of large projects, 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 shares also trade on the OTCQX market under the symbol \"TMIAF\" and \"TMIBF\". Additional information related to TriMetals ...