Trigon Metals Inc.
TSX VENTURE : TM

Trigon Metals Inc.

May 15, 2017 16:01 ET

Trigon Metals Announces $2.0 Million Private Placement

TORONTO, ONTARIO--(Marketwired - May 15, 2017) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Trigon Metals Inc. (TSX VENTURE:TM) ("Trigon" or the "Company") is pleased to announce that it has entered into a letter of engagement with Eight Capital acting as sole bookrunner and lead agent, on behalf of a syndicate (together, the "Agents"), under which the Agents have agreed to offer for sale units of the Company (the "Units"), on a "best efforts" private placement basis, subject to all required regulatory approvals, at a price per Unit of $0.30 (the "Issue Price") for total gross proceeds of up to approximately $2,000,000 (the "Offering").

Each Unit shall consist of one common share of the Company (a "Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant shall entitle the holder thereof to acquire one Share at a price of $0.40 for a period of 36 months following the closing date of the Offering.

The Company has granted the Agents an option to offer for sale up to an additional 15% of the Units, at the Issue Price, exercisable in whole or in part at any time for a period of up to 48 hours prior to the closing date of the Offering.

The net proceeds from the Offering will be used for exploration and development of the Kombat Mine, and for working capital and general corporate purposes.

The closing date of the Offering is scheduled to be on or about June 7, 2017 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.

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 licenses in the Otavi Mountain lands, an area of Namibia particularly known for its high-grade copper deposits. Within these licenses are three past producing mines including the Company's flagship property, the Kombat Mine.

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, the Company's plans and expectations for the Kombat Mine 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.

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