Mr. Thomas Wood reports
TRINITY ONE METALS ANNOUNCES CLOSING OF $5.34 MILLION FINANCING INCLUDING LIFE OFFERING AND CONCURRENT PRIVATE PLACEMENT
Trinity One Metals Ltd. has closed its previously announced non-brokered private placement offerings. The company issued an aggregate of 26.7 million units at a price of 20 cents per unit for gross proceeds of $5.34-million across both offerings.
Under the listed issuer financing exemption (LIFE) offering, the company issued 16.7 million units for gross proceeds of $3.34-million. The securities issued under the LIFE offering are not subject to a statutory hold period in accordance with applicable Canadian securities laws. Under the concurrent private placement, the company issued 10 million units for gross proceeds of $2-million. The securities issued under the concurrent offering are subject to a statutory hold period expiring on July 7, 2026.
Each unit consists of one common share of the company and one-half of one transferable common share purchase warrant. Each warrant entitles the holder to acquire one additional common share at an exercise price of 30 cents for a period of 36 months from the closing date of the LIFE offering and concurrent offering, provided that the warrants may not be exercised for a period of 60 days from the closing date.
In connection with the offerings, the company paid aggregate cash finders' fees of $259,000 and issued 1,299,000 finders' warrants to certain arm's-length finders. These fees represent a 6-per-cent cash commission and 6 per cent in finders' warrants based on the proceeds raised and units sold to subscribers introduced by the respective finders.
The company intends to use the net proceeds of the offerings to advance exploration, technical evaluation and project advancement activities across the company's mineral asset portfolio, including verification and follow-up work on recently acquired properties, historical data verification, target generation, and early-stage field programs, as well as for general working capital and corporate purposes.
About Trinity One Metals Ltd.
Trinity One Metals is a precious and base metals explorer focused on building a portfolio of high-growth projects with exposure to some of the world's most in demand metals. The company's strategy is to acquire and advance assets with strong geological fundamentals, clear catalysts, and the ability to deliver discovery and growth through disciplined modern exploration.
We seek Safe Harbor.
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