Mr. Ralph Fitch reports
TRIMETALS MINING ANNOUNCES CLOSING OF $3.5 MILLION PRIVATE PLACEMENT
TriMetals Mining Inc. has closed its previously announced brokered private placement of 14.6 million units of the company at a price of 24 cents per unit for gross proceeds to the company of $3.5-million. Each unit consists of one common share of the company and one-half of one common share purchase warrant of the company. Each whole warrant entitles the holder to purchase one common share at a price of 30 cents for a period of 30 months.
A syndicate of agents led by BMO Capital Markets and including PI Financial Corp. and GMP Securities LP acted as agents in connection with the offering.
The agents have been granted an option, exercisable in whole or in part for a period of 14 days from the date hereof, to arrange for the purchase of up to an additional $1.5-million of units.
The corporation intends to use the net proceeds from the offering of $3,048,000 for the continued exploration and resource expansion at the Gold Springs gold-silver project and for general corporate purposes.
About TriMetals Mining Inc.
TriMetals Mining is focused on the exploration and development of the near-surface Gold Springs gold-silver project in Nevada and Utah.
We seek Safe Harbor.
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