TORONTO, Sept. 27, 2018 — Trigon Metals Inc. (TSX-V: TM) (“Trigon” or the “Company”) announces the appointment of Jed Richardson as President and as a director of Trigon, effective immediately. Stephan Theron will continue as Trigon’s Chief Executive Officer.Jed Richardson brings considerable expertise to the Trigon management team and its board of directors, particularly with his career in capital markets and his background in the exploration and resource development as CEO of Great Quest Fertilizer, active in West Africa, and formerly as an executive at Amazon Mining developing resource assets in Brazil. Mr. Richardson spent a large portion of his career in capital markets working as a research analyst at Sprott Securities and RBC Capital Markets. He also worked as a Mining Engineer for Alcan Aluminum after graduating from the University of Toronto. Mr. Richardson holds a B.A.Sc in Mineral and Geological Engineering.Mr. Richardson commented: “Trigon seeks to build on the success of its mine restart feasibility study which showed a start-up capital investment of US$6.4 million generating an IRR of 103.4% with a payback period of 1.6 years. The Company has identified new drill targets seeking to increase the mine life from surface mineralization as well as reviewing options to dewater the Asis Far West production shaft to access underground material that has been historically higher grade.” Trigon also announces the appointment of Larisa Sprott to its board of directors and Andrew Cheatle as Vice President, Exploration, each effective immediately.Ms. Sprott has spent much of her life around the investment business and the investment side of the natural resource sector. She currently serves as the President of Sprott Money, an online retailer of gold, silver and platinum bullion to investors and collectors. Prior, she worked as an investment advisor with Sprott Asset Management, and her work history includes experience in Public Relations with Toronto based firm DKPR. Amongst a list of charitable work, she is on the Board of Directors for the Sprott Foundation. Ms. Sprott holds a Master’s of Science in Education.Mr. Cheatle has over 25 years of minerals industry experience as a professional geoscientist and mining executive, with former roles including President and CEO of Unigold Inc., and as the Executive Director of the Prospectors and Developers Association of Canada (PDAC). His career has spanned both major mining companies (Anglo American Corporation, Placer Dome, Goldcorp) and the junior mining sector. He is also currently a Non-Executive Director of Condor Gold plc., Q-Gold Resources Ltd. and a Director of the Canada – Africa Chamber of Business. He is a graduate of the Royal School of Mines, Imperial College, London and holds an MBA.The appointment of Ms. Sprott follows the resignation of Justin Reid from the Company’s board of directors. The board and management of Trigon thank Mr. Reid for his efforts and contributions and wish him well in his future endeavours.Qualified PersonThe technical and scientific contents of this press release have been prepared under the supervision of and have been reviewed and approved by Fanie Muller, P.Eng, VP Operations of Trigon, who is a Qualified Person as defined by NI 43-101. Trigon Metals Inc.Trigon is a publicly traded Canadian exploration and development company with its core business focused on copper operations in Namibia, one of the world’s most prospective copper regions, where it has substantial assets in place. The Company continues to hold an 80% interest in five mining licenses in the Otavi Mountain lands, an area of Namibia widely recognized for its high-grade copper deposits. Within these licenses are three past producing mines including the Company’s flagship property, the Kombat Mine. For more information please see the technical report filed on July 20, 2018 and titled “NI 43-101 Technical Report on the Kombat Copper Project, Namibia” with an effective date of April 30, 2018 filed under the Company’s profile on SEDAR.For further information, contact:Stephan Theron+1 (416) 861 5899stheron@trigonmetals.comCautionary NotesThis news release may contain forward-looking statements. These statements include statements regarding the impact of management and board appointments, the results of the feasibility study, the, the Company’s ability to restart the Kombat mine, the Company’s ability to increase the mine life, the mineralization of the Kombat mine and the Company’s future plans and objectives. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
TRIGON METALS ANNOUNCES PRIVATE PLACEMENT FINANCING AND APPOINTMENT OF MARK EATON AS CHAIRMAN
TRIGON METALS ANNOUNCES PRIVATE PLACEMENT FINANCING AND APPOINTMENT OF MARK EATON AS CHAIRMAN
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Toronto, Canada – July 19, 2017 – Trigon Metals Inc. (TSX-V: TM) (“Trigon” or the “Company”) intends to complete a non-brokered private placement financing of up to 3,333,333 units (the “Units”) at a price of $0.30 per Unit for gross proceeds of up to $1,000,000 (the “Offering”). Each Unit will be comprised of one common share of Trigon (a “Share”) and one half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to acquire one Share at a price of $0.40 for a period of 36 months following the closing date of the Offering.
Closing of the Offering is expected to occur on or about August 2, 2017 and remains subject to a number of conditions, including receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.
The Company intends to use the net proceeds from the Offering for exploration and development of the Kombat Mine, and for working capital and general corporate purposes. Trigon is also evaluating opportunities to partner with a strategic investor and copper concentrate offtaker, as a potential funding source for the required operational restart capital.
Corporate Update
The Company announces the resignation of Brett Richards from the board of directors of the Company and the appointment of Mark Eaton as a director and Chairman of the board, effective immediately. In addition, Paul Bozoki has resigned as Chief Financial Officer of the Company and will be replaced by Stephen Woodhead with effect from August 1, 2017. Mr. Eaton will participate in the Offering. Stephan Theron, President & CEO of Trigon, commented: “We are extremely pleased to welcome Mr. Eaton to the board and Mr. Woodhead to the management team. Mark brings extensive experience in the mining sector and capital markets to the team at a critical juncture as we are aiming to restart the Kombat mine in the near future.”
Mr. Eaton is a graduate from Hull University, England and is an experienced investment professional with over 20 years of experience in equity capital markets specializing in the resource sector. He has held the position of Managing Director of Global Mining Sales, a division of CIBC World Markets and Manager of US Equity Sales for CIBC World Markets. Mr. Eaton is also a former Partner and Director of Loewen Ondaatje McCutcheon Ltd., a Toronto-based investment dealer. In addition to his experience in institutional mine finance and investment banking, Mr. Eaton has served in management and on the Boards of several public mining companies. Mr. Eaton is the current Executive Chairman and the former Chief Executive Officer of Belo Sun Mining Corp.
Mr. Woodhead is a graduate of the University of Cape Town and a member of the South African Institute of Chartered Accountants. Mr. Woodhead has over 25 years of experience having worked for the South African Department of Finance and Trans Hex Group, a South African diamond producer, before relocating to Canada in 1997 as Chief Financial Officer of Trans Hex International. From 2003 until it was acquired by Yamana Gold in 2006, Mr. Woodhead was the Chief Financial Officer of Desert Sun Mining, developer of the Jacobina gold mine in Brazil, and in 2011 and 2012 was Chief Financial officer of Crocodile Gold Corp. Mr. Woodhead has also acted as Chief Financial Officer of Admiral Bay Resources (oil and gas), Beartooth Platinum (platinum group metals), Longford (oil and gas), Aberdeen International (royalty), Sanatana Diamonds (diamonds) and Homeland Energy (coal); as Vice President, Finance of Glass Earth (gold) and Luiri Gold (gold); and has served as a director of Apogee Minerals (silver) and Vaaldiam Mining (diamonds).
The board of directors would like to thank Mr. Richards and Mr. Bozoki for their contributions to Trigon and welcomes Mr. Eaton and Mr. Woodhead to the Company.
Trigon has granted a total of 675,000 stock options to certain officers, directors and consultants of the Company pursuant to the Company’s stock option plan. The stock options vest immediately and may be exercised at a price of $0.385 per option for a period of five years from the date of grant. This grant of options is subject to the approval of the TSX Venture Exchange.
Trigon Metals Inc.
Trigon is a publicly traded Canadian exploration and development company with its core operations 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. The Company continues to hold an 80% interest in five mining licences in the Otavi Mountain lands, an area of Namibia particularly known for its high-grade copper deposits. Within these licences are three past producing mines including the Company’s flagship property, the Kombat Mine.
For further information, contact:
Spyros Karellas
Investor Relations +1 (416) 433-5696
Email: spyros@pinnaclecapitalmarkets.ca
Website: www.trigonmetals.com
Cautionary Notes
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements. These statements include statements regarding the Offering, the expected use of proceeds of the Offering, the impact of changes to the Company’s board of directors and management team, the grant of stock options, the Company’s ability to partner with third parties and the Company’s future plans and objectives. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been 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 within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
