Trigon Announces Conversion of Accrued Interests Under Lind Debt
Trigon Metals Inc. (TSX-V: TM) ("Trigon" or the "Company") announces that in connection with its C$5.5 million of principal Convertible Security Funding Agreement with Lind Global Fund II, LP ("Lind") (please see the Company's press release dated May 4, 2022 for further details), Lind has exercised its right to convert C$270,000 of accrued interest into 2,000,000 common shares of Trigon at a conversion price of $0.135 per Trigon share (the "Lind Shares").
The issuance of the Lind Shares is subject to the approval of the TSX Venture Exchange.
Trigon continues to advance the definitive documentation in connection with the completion of the streaming transaction (the "Streaming Transaction") with Sprott Resources Streaming and Royalty Corp. and Sprott Mining Inc. (Please see the Company's press release dated July 20, 2022 for further details).
Trigon Metals Inc.
Trigon is a publicly-traded Canadian exploration and development company with its core business focused on copper and silver holdings in mine-friendly African jurisdictions. Currently, the company has operations in Namibia and Morocco. In Namibia, the Company holds an 80% interest in five mining licences in the Otavi Mountainlands, an area of Namibia widely recognized for its high-grade copper deposits, where the Company is focused on exploration and re-development of the previously producing Kombat mine. In Morocco, the Company is the holder of the Silver Hill project, a highly prospective copper and silver exploration project.
Cautionary Notes
This news release may contain forward-looking statements. These statements include statements regarding the Company's ability to restart operations at the Kombat mine, the economic viability of the Kombat Mine, the Company's strategies and the Company's abilities to execute such strategies, the Company's expectations for the Kombat project, 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) accept responsibility for the adequacy or accuracy of this release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221014005319/en/
Contact
For further information:
Jed Richardson
+1 647 276 6002
jed.richardson@trigonmetals.com
Website: www.trigonmetals.com
