Trigon Announces Conversion of Accrued Interest on Lind Debt
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TORONTO — Trigon Metals Inc. (TSX-V: TM) (“Trigon” or the “Company”) announces that, in connection with its C$5.5 million convertible securities financing agreement with Lind Global Fund II , LP (« Lind ») (please see the Company’s press release dated May 4, 2022 for further details), Lind exercised its right to convert C$270,000 of accrued interest into 2,000,000 shares shares of Trigon at a conversion price of $0.135 per Trigon share (the « Lind Shares »).
The issuance of Lind shares is subject to the approval of the TSX Venture Exchange.
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Trigon continues to advance 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 listed Canadian exploration and development company whose core business is focused on copper and silver holdings in mining-friendly African jurisdictions. Currently, the company is present in Namibia and Morocco. In Namibia, the Company holds an 80% interest in five mining licenses in the Otavi Mountains, an area of Namibia widely recognized for its high-grade copper deposits, where the Company is focused on the exploration and redevelopment of the former Kombat mine in production. . In Morocco, the Company holds the Silver Hill project, a high-potential copper and silver exploration project.
This press 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 those strategies, the Company’s expectations for the Kombat project, and the company’s future plans and goals. These statements are based on current expectations and assumptions which are subject to risks and uncertainties. Actual results could differ materially due to factors discussed in the « Management Discussion and Analysis » section of our interim and most recent annual financial statements or other reports and documents filed with the TSX Venture Exchange and the applicable Canadian securities regulations. We undertake no obligation to update forward-looking statements, except as required by applicable law.
Neither the 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.
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