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Trigon Metals (TSXV:TM) has announced a non-brokered private placement

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The company is looking to raise gross proceeds of up to $1.5 million from the placement of up to 15 million units priced at $0.10 per unit. The units consist of 1 share and 1/2 a warrant, with each full warrant exercisable at $0.15 for 24 months, subject to an acceleration clause.

Additional Information:

Company: Trigon Metals
Website: http://www.TrigonMetals.com
Stock Symbol: TSXV: TM
Date Published: Aug 27, 2019
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Trigon Metals has announced a non-brokered private placement.

The company is looking to raise gross proceeds of up to $1.5 million from the placement of up to 15 million units priced at $0.10 per unit.

The units consist of 1 share and 1/2 a warrant, with each full warrant exercisable at $0.15 for 24 months, subject to an acceleration clause.

The shares are currently trading at $0.13.

Trigon, a Canadian exploration and development company, is 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.

Trigon, through its Namibian subsidiary Manila Investments, holds an 80% interest in five Mining Licenses in the Otavi Mountainlands, 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.

The Kombat Mine’s extensive infrastructure includes the Asis Far West 800 meter vertical shaft, which was completed in 2006, two other vertical shafts, three decline shafts with ramp systems, extensive underground workings, mine buildings, a tailings facility, a mill and concentrator.

It originally opened in 1962 and from 1962 to 2008 produced 12.46 million tonnes of ore grading 2.6% copper, 1.55% lead and 18 grams per tonne silver over an aggregate of 45 years.

The mine is linked to vital existing infrastructure, including power, water, roads, and rail with close proximity to the port of Walvis Bay and to one of only five commercial-grade smelters in Africa located in the town of Tsumeb.

Net proceeds will be used for initial mobilization at the Kombat Mine, review of potential strategic acquisition opportunities and for working capital.
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For more information, please visit the company’s website at www.TrigonMetals.com, contact Jed Richardson, President, at 416-861-5893 or by email at jed.richardson@TrigonMetals.com.

I’m Megan Edwards for Investmentpitch Media