Business
TriMetals Mining Inc. Closes $1,211,750 First Tranche of its Non-Brokered Private Placement
Not for distribution to U.S. news wire services or dissemination in the United States. VANCOUVER, British Columbia, Feb. 26, 2018 (GLOBE NEWSWIRE) -- TriMetals
About this update from Gold Springs Resource Corp.
[{"type":"text","content":" Not for distribution to U.S. news wire services or dissemination in the United States. VANCOUVER, British Columbia, Feb. 26, 2018 (GLOBE NEWSWIRE) -- TriMetals Mining Inc. (TSX:TMI), (“TriMetals”, “TMI”, or the “Company”), is pleased to announce that it has issued 8,078,333 units of the Company (the “Units”) at a price of $0.15 per Unit to raise gross proceeds of $1,211,750. Each Unit consists of one common share of the Company and one-half of one common share purchase warrant of the Company (each whole common share purchase warrant, a “Warrant”). Each Warrant will be 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 (the “TSX”) 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 show of support that we have found in this difficult financing market for our gold prospects, our team, and our diversified asset base. We are able to welcome a substantial number of new Canadian investors to TMI who participated in this offering, along with good support from our existing shareholders who continue to believe in the gold discovery opportunity at Gold Springs.” Mr. Edwards further commented, “We are continuing to receive additional subscriptions, and we are planning for a second tranche closing soon. This financing will provide the Company funding to commit to a substantial 2018 exploration program at Gold Springs, and explore strategic options to realize value from Escalones copper project.” Robert van Doorn, Chairman and a director of the Company, subscribed for 1,000,000 Units and Mr. Edwards subscribed for 200,000 Units. 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...