Mr. Eric Edwards reports
TRIMETALS MINING INC. CLOSES FINAL TRANCHE OF ITS NON-BROKERED PRIVATE PLACEMENT, RAISING AN AGGREGATE OF $1,654,250
Trimetals Mining Inc. closed on March 2, 2018, the second and final tranche of its non-brokered private placement, raising gross proceeds of $442,500 from the sale of 2.95 million units priced at 15 cents per unit.In aggregate, the company sold 11,028,333 units and raised $1,654,250 pursuant to the private placement.
Each unit consists of one common share of the company and one-half of one common share purchase warrant of the company. Each warrant is exercisable by the holder to acquire one additional common share of the company at a price of 25 cents 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 is 35 cents 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 market response to our financing, and are glad to make additional room to accommodate current and new shareholder demand."
About Trimetals Mining Inc.
Trimetals Mining is a growth focused mineral exploration company creating value through the exploration and development of the near-surface, oxide, heap-leachable Gold Springs gold project in mining-friendly Utah and Nevada, and the Escalones copper-gold skarn/porphyry deposit in Chile.
We seek Safe Harbor.
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