Trimox Energy Inc.

Trimox Energy Inc.

October 04, 2005 16:23 ET

Trimox Energy Inc. Closes Bought-Deal Financing

CALGARY, ALBERTA--(CCNMatthews - Oct. 4, 2005) - Trimox Energy Inc. ("Trimox" or the "Company") (TSX VENTURE:TRM.A) (TSX VENTURE:TRM.B) is pleased to announce that it has completed its previously announced firm bought-deal private placement financing with FirstEnergy Capital Corp., of 2,900,000 Class A Shares at a price of $2.25 per Class A Share, resulting in gross proceeds of $6,525,000. Proceeds from the offering will be used to expand and accelerate Trimox's development of its core properties at Retlaw, Worsley and Niton.

The Company has 12,900,000 Class A Shares and 450,000 Class B Shares issued and outstanding.

In addition, the Company today announces that, pursuant to the Company's stock option plan, it has granted options to acquire up to an aggregate of 300,000 Class A Shares of the Company to certain directors, officers, employees and consultants of the Corporation. Each of the options is for a five year term, expiring on October 4, 2010 and exercisable as to one third per year, commencing on October 5, 2006, at a price of $2.25 per share. There are now outstanding options to purchase a total of 1,200,000 of the Corporation's Class A Shares, or 9.3% of Company's issued and outstanding Class A Shares.

Trimox trades on the TSX Venture Exchange under the symbols "TRM.A" and "TRM.B".

This press release does not constitute an offer to sell the securities in the United States. The securities offered have not 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 in the United States except in certain transactions exempt from the registration requirements of the U.S. Securities Act and applicable state securities laws.

This news release contains forward looking information. Such information is subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information, as no assurances can be given as to future results, levels of activity or achievements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Trimox Energy Inc.
    Steve Dabner
    President & C.E.O.
    (403) 216-1721
    Trimox Energy Inc.
    Thomas Love
    Chairman & C.F.O.
    (403) 216-1722